Gold futures down on weak global cues

New Delhi: Gold prices fell 0.20 per cent to Rs 25,829 per 10 gram in futures trade today as investors  reduced positions in line with a weak trend in overseas  markets amidst subdued demand in domestic spot markets. At the Multi Commodity Exchange, gold for delivery in  August eased by Rs 52, or 0.20 per cent to Rs 25,829 per 10 gram in business turnover of 149 lots. Likewise, the metal for delivery in June shed Rs 38, or 0.14 per cent to Rs 26,825 per 10 gram in 33 lots.    

Market analysts said there is a weakening trend in the  overseas markets as hedge funds pared bets on a rally in the  metal as demand for a safe haven declined and put pressure on  gold prices at futures trade here. Globally, gold fell 0.30 per cent to USD 1,246.50 an ounce in Singapore.