Gold futures fall on weak global cues

Gold prices fell by 0.29% to Rs 25,980 per 10 grams in futures trade today as market players reduced their positions in line with weak trend overseas as well as subdued demand in domestic spot markets.

At the Multi Commodity Exchange, gold for delivery in June contract eased by Rs 29, or 0.29%, to Rs 25,980 per 10 grams in a business turnover of 24 lots.

Similarly, yellow metal for delivery in March shed Rs 20, or 0.20%, to Rs 25,870 per 10 grams in 524 lots.

According to analysts, a weak trend in overseas markets weighed on gold futures ahead of likelihood that the US Federal Reserve may hike interest rates sooner-than-expected.

In global markets, gold fell by 0.4 per cent to USD 1,153.69 an ounce.