Gold falls Rs 46 in futures trade as weak global cues hurt

New Delhi: Gold prices fell Rs 46 to Rs 26,365 per 10 grams in futures trade as participants reduced their positions, largely in line with a weak trend overseas. At Multi Commodity Exchange, gold for delivery in August contract was trading lower by Rs 46, or 0.17 per cent, at Rs 26,365 per 10 grams in a business turnover of 131 lots. Also, the metal for delivery in October shed Rs 34, or 0.13 per cent, to Rs 26,616 per 10 grams in 8 lots.

Analysts said there is a weakening trend in the overseas markets where gold retreated before a US employment report that?s expected to provide further clues on timing of Fed's rate increase, which weighed on the precious metal in futures trade here. Globally, gold fell 0.1 per cent to USD 1,167.95 an ounce in Singapore.