Gold futures down 0.35% on weak global cues

Gold futures prices today fell by 0.35 percent to Rs 26,235 per 10 grams as speculators offloaded their positions amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in August drifted by Rs 93 or 0.35 percent to Rs 26,235 per 10 grams in business turnover of 87 lots.

Similarly, metal prices for delivery in far-month October declined by Rs 78 or 0.29 percent to Rs 26,482 per ten grams in five lots.

Market analysts said the fall in gold futures was mostly attributed to trimming of positions by speculators, tracking a weak trend overseas.

Meanwhile, gold traded 0.25 percent lower at USD 1,166.90 an ounce in Singapore.