NEW DELHI, Aug 26: Amid a weakening global trend, gold futures fell Rs 64 to Rs 26,674 per 10 gm today as participants reduced their positions.
Furthermore, fall in demand from jewellers at the spot markets too weighed on the precious metal prices.
Gold for delivery in October contracts was trading Rs 64 or 0.25 per cent lower at Rs 26,674 per 10 gm in a business turnover of 492 lots at the Multi Commodity Exchange.
On similar lines, the metal for delivery in far-month December shed Rs 66 or 0.25 per cent to Rs 26,870 per 10 gm in 41 lots.
Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas and profit-booking by speculators.
Slowdown in buying by jewellers as spot demand dropped at prevailing levels, too put pressure, they said.
In the national capital, gold halted its two-week winning-run by falling Rs 215 to Rs 27,360 per ten gram in yesterday’s trade.
Meanwhile, gold prices retreated as much as 0.5 per cent to USD 1,134.75 an ounce in Singapore today. (PTI)
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