Gold futures down 0.3% on weak global cues

Gold futures prices today fell by 0.35% to Rs 26,235 per 10 grams as speculators offloaded their positions amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in August drifted by Rs 93 or 0.35% to Rs 26,235 per 10 grams in business turnover of 87 lots.

Similarly, metal prices for delivery in far-month October declined by Rs 78 or 0.29% to Rs 26,482 per ten grams in five lots.

Market analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas.

Meanwhile, gold traded 0.25% lower at $1,166.90 an ounce in Singapore.