Gold futures decline on lower global trend

Gold prices moved down by Rs 46 to Rs 18,659 per ten grams in futures market today, as speculators reduced their positions in tandem with weakening global trend.

At the Multi Commodity Exchange, gold for October month fell by Rs 46 or 0.25 per cent to Rs 18,659 per ten grams, with an open interest of 20009 lots.

Similarly, the metal for delivery in December month moved down by Rs 41 or 0.22 per cent to Rs 18,782 per ten grams in 2,340 lots.

Analysts said position reduced by speculators amid weakening global trend led to the fall in gold prices at futures trade.

Meanwhile, gold fell by $5.40 to $1,220 dollar an ounce in Asian region.