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Gold prices fell 0.93 per cent to Rs 26,212 per 10 grams at the futures trade today on offloading of positions by speculators, tracking weak global markets.
At the Multi Commodity Exchange, gold for delivery in December fell Rs 246 or 0.93 per cent to Rs 26,212 per 10 grams in 1,405 lots. In a similar fashion, the metal for delivery in far-month February lost Rs 249 or 0.93 per cent to Rs 26,480 per 10 grams in 103 lots.
Analysts attributed the fall in gold futures prices at home to a weak global trend as the strengthening of dollar reduced the precious metal’s appeal as an alternative investment.
In addition, a weak trend in the domestic market despite the ongoing festive season also put pressure on gold prices at the futures trade here, they said.
Meanwhile, the yellow metal fell 1 per cent to $1,623.97 an ounce in early trade in the Asian region.
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