Gold futures fall 0.16 per cent on global cues

New Delhi: Gold prices fell by 0.16 per cent to Rs 26,678 per ten grams in futures trade on October 7 as speculators indulged in trimming positions in tandem with a weak global trend. At the Multi Commodity Exchange, gold for delivery in December fell by Rs 43, or 0.16 per cent, to Rs 26,678 per ten grams in a business turnover of 409 lots.

Similarly, the metal for delivery in February 2014 contracts lost Rs 21, or 0.08 per cent, to Rs 26,883 per ten grams in a business turnover of just one lot. Analysts attributed the fall in gold futures to trimming of positions by speculators in tandem with a weak global trend as the dollar advanced towards a four-year high, reducing demand for precious metals as an alternative investment. Meanwhile, gold fell 0.4 per cent to USD 1,203.02 an ounce in Singapore in early trade on October 7.