Gold futures down by 0.23 per cent on weak global cues, profit-booking

New Delhi: Gold futures prices fell by 0.23 per cent to Rs 26,834 per 10 grams as speculators offloaded their positions to book profits amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in far-month October fell Rs 61, or 0.23 per cent, to Rs 26,834 per 10 grams in business turnover of seven lots. Similarly, metal prices for delivery in August declined by Rs 55, or 0.20 per cent, to Rs 26,776 per ten grams in 181 lots.

Market analysts said the fall in gold futures was mostly attributed to profit-booking by speculators and a weak trend overseas before the US Federal Reserve begins a two-day policy meeting. Meanwhile, gold prices fell 0.4 per cent to USD 1,267.51 an ounce in Singapore.