Tracking a weak global trend, gold prices eased 0.21 per cent to Rs 26,800 per 10 grams at the futures trade today as speculators offloaded their position.
At the Multi Commodity Exchange, gold for delivery in far-month April fell Rs 57 or 0.21 per cent to Rs 26,800 per 10 grams in a business turnover of 2 lots.
Similarly, the yellow metal for delivery in February lost Rs 42 or 0.16 per cent to Rs 26,566 per 10 grams in 88 lots.
If the US GDP growth is stronger than expected, gold prices may break the support at $1170
— Rajalakshmi Nirmal (@crajalakshmic)
Market analysts said the fall in gold futures was mostly due to a weak trend in the global market.
Meanwhile, gold in New York dropped 1.47 per cent to $1,176.70 an ounce in yesterday’s trade.