Gold futures slip on lower global trend

Gold futures prices fell by Rs 160 to Rs 20,211 per 10 grams today, as speculators reduced their positions, tracking weak global cues.

At the Multi Commodity Exchange, gold for delivery in December month fell by Rs 160, or 0.79 per cent to Rs 20,371 per 10 grams, in a moderate turnover of 2 lots.

Similarly, the metal for delivery in the month of February weakened by Rs 138, or 0.67 per cent, to Rs 20,560 per 10 grams, with a business turnover of 4 lots.
    
Analysts said the fall in gold futures is due to a weak trend at the global markets as concern that some European governments are struggling to finance themselves, boosted the dollar against the euro, eroding the metal's appeal as an alternative asset.
    
Meanwhile, gold fell by 1.6 per cent to USD 1,386 an ounce in the Asian region.