Gold prices fell Rs 49 to Rs 26,698 per 10 grams at the futures trade today as participants trimmed their positions, largely in tune with a weak trend overseas.
Gold for delivery in far-month February was trading down by Rs 49 or 0.18 per cent at Rs 26,698 per 10 grams on the Multi Commodity Exchange with a business turnover of 12 lots.
Also, the metal for delivery in December shed Rs 44 or 0.17 per cent to Rs 26,511 per 10 grams in 358 lots.
Analysts said a weak trend in the overseas markets, where gold retreated from over one-week high as Chinese markets reopened after a long break and investors awaited minutes from the Federal Reserve’s last meeting for clues on the timing of an interest rate increase, weighed on the futures trade here.
Globally, gold fell 0.3 per cent to $1,141.76 an ounce in Singapore.