Gold futures fall on global cues

New Delhi: Gold prices fell by Rs 96 to Rs26, 253 per 10 grams in futures market today as speculators offloaded their positions amid a weak global trend. At the Multi Commodity Exchange, gold for delivery in current month contract fell by Rs 96, or 0.36 per cent, to Rs 26,253 per 10 grams in a business turnover of one lot.

Similarly, the yellow metal for delivery in February next year lost Rs 76, or 0.29 per cent, to Rs 26,560 per 10 grams in 205 lots. Analysts said the fall in gold futures was mostly due to a weakening trend in the global market before US payrolls data that may show employers added more workers last month, boosting the case for an increase in borrowing costs in the largest economy.

Meanwhile, gold in Singapore dropped 0.2 per cent to USD 1,203.51 an ounce.