Gold futures weaken on global cues

New Delhi:  Gold futures fell by 0.51 per cent to Rs 26,862 per 10 grams today as participants indulged in reducing exposures, largely in tandem with a global trend.

At the Multi Commodity Exchange, gold for delivery in far-month December eased by Rs 137, or 0.514 per cent, to trade at Rs 26,862 per 10 grams in a turnover of 5,54 lots.

Also, the metal for delivery in October month contracts fell by Rs 61, or 0.23 per cent, to Rs 26,852 per 10 grams in 3,116 lots.

Globally, gold lost as much as 0.40 per cent to USD 1,210.94 an ounce in London.

Analysts said a weakening trend overseas as a stronger dollar and signs of an improving US economy cut demand for safe-haven, put pressure on gold prices at futures trade here.

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Free Press Journal