Gold futures fall on global cues

Gold prices fell by Rs 59 to Rs 20,765 per ten grams in futures trade today, as speculators reduced their positions in tandem with weakening global trend.

At the Multi Commodity Exchange, gold for June fell by Rs 59, or 0.28 per cent, to Rs 20,765 per ten grams, with a business turnover of two lots.   

Similarly, the metal for delivery in February lost Rs 43, or 0.21 per cent, to Rs 20,353 per ten grams, with a business volume of seven lots.    

Analysts said fresh selling by speculators in line with weakening global trend led to the decline in gold prices at futures trade.

Meanwhile, gold fell by $2.50 to $1,368 an ounce in Asia.