Gold falls down by 0.3% in futures trade

Gold prices fell Rs 78 to Rs 26,643 per 10 grams in futures trade today as participants cut down their bets, largely in line with a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month April 2016 was trading lower by Rs 78, or 0.30%, at Rs 25,724 per 10 grams in a business turnover of just one lot.

Also, the metal for delivery in February next year shed Rs 68, or 0.26%, to Rs 25,611 per 10 grams in 167 lots.

Analysts said a weakening trend in the overseas markets as investors awaited decision on an increase in interest rate in the Federal Reserve's meet on December 15-16, weighed on the precious metal in futures trade.
 

Globally, gold fell 0.3% to $1,071.25 an ounce in Singapore.