Amid a weakening global trend, gold futures traded Rs 51 down at Rs 26,294 per 10 gram today as speculators reduced their positions.
Gold for delivery in October dropped by Rs 51 or 0.19 per cent to Rs 26,294 per 10 gram in a business turnover of 443 lots at the Multi Commodity Exchange.
In a similar fashion, the metal for delivery in far-month December shed Rs 49 or 0.18 per cent to Rs 26,487 per 10 gram in 10 lots.
Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas amid speculation that US interest rates may still increase before the year-end as Federal Reserve officials sought to ease concern over the health of the economy, eroding haven demand.
Meanwhile, gold prices fell by 0.57 per cent to USD 1,133.40 an ounce in New York yesterday.
