Gold futures fall on weak global cues

NEW DELHI: Gold prices fell by Rs 326 to Rs 26,929 per 10 gm in futures trade today as speculators trimmed their positions, tracking a weak global trend.

However, token buying by retailers in the spot markets on the auspicious occasion of "Akshya Tritya" restricted the losses.

At the Multi Commodity Exchange, gold for delivery in August fell by Rs 326, or 1.20 per cent, to Rs 26,929 per 10 gm in business turnover of 973 lots.

Similarly, the yellow metal for delivery in the June contract lost Rs 296, or 1.10 per cent, to Rs 26,703 per 10 gm in 22,500 lots.

Analysts said speculators trimmed their positions in tandem with a weak global trend mainly led to the fall in gold prices at futures trade.

Meanwhile, gold dropped 1.1 per cent to USD 1,431.68 an ounce in London.