Gold prices were down by Rs 119 to Rs 26,975 per 10 grams at the futures market today as speculators indulged in offloading their positions, tracking a weak trend in the Asian region.
At the Multi Commodity Exchange, gold for delivery in February declined by Rs 119 or 0.44 per cent to Rs 26,975 per 10 grams with a trading volume of 158 lots. Similarly, December contract lost Rs 108 or 0.40 per cent to Rs 26,716 per 10 grams in 4,722 lots.
Traders said offloading of positions by speculators and a weak trend in the Asian region mainly led to the fall in gold prices at the futures trade.
Meanwhile, the yellow metal fell 0.2 per cent to $1,667.63 an ounce in Singapore.