Gold prices fell by 0.16% in futures trade today on lack of buying support from speculators and local participants, as rising stock markets eroded demand for the precious metal.
On the Multi Commodity Exchange, gold for the August- month contract fell by 0.16% to Rs 14,013 per 10 gram in a trading volume of 144 lots and the most-active June contract for the yellow metal lost 0.14% to Rs 14,012 in trading of 2,023 lots.
Marketmen said buying activity fell as traders and general investors shifted their funds from the bullion to rising stock markets.
A weakening trend in the spot market further influenced the trading sentiment, they said.