Gold prices fall by 0.21 per cent in futures trade on global cues

Gold prices eased by 0.21 per cent to Rs 26,800 per 10 grams in futures trade on Tuesday, tracking a weak global trend, as speculators offloaded their position.

Market analysts said the fall in gold futures was mostly due to a weakening trend in the global market.

At the Multi Commodity Exchange (MCX), the yellow metal for delivery in far-month April dropped by Rs 57 (or 0.21 per cent) to Rs 26,800 per 10 grams in a business turnover of 2 lots.

On similar lines, gold for delivery in February fell by Rs 42 (or 0.16 per cent) to Rs 26,566 per 10 grams in 88 lots.

Meanwhile, gold prices in New York fell by 1.47 per cent to US $1,176.70 an ounce in Monday’s trade.