Gold futures prices fell 0.36 per cent to Rs 26,344 per 10 grams today as speculators offloaded their positions in tandem with a weak global trend.

On the Multi Commodity Exchange, gold prices for delivery in August fell Rs 94 or 0.36 per cent to Rs 26,344 per 10 grams in a business turnover of 542 lots. Similarly, the metal prices for delivery in October declined by Rs 87 or 0.33 per cent to Rs 26,482 per 10 grams in 27 lots.

Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas as investors weighed the Federal Reserve’s next move on stimulus amid concerns that last week's gain may deter physical purchases.

Meanwhile, the yellow metal prices fell 0.2 per cent to $1,281.60 an ounce in Singapore.

(This article was published on July 16, 2013)
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