New Delhi: Tracking a weak global trend, gold prices fell by Rs 417 to Rs 26,142 per ten grams in futures market on Wednesday as speculators offloaded their positions. Sluggish demand due to off-marriage season in the spot market further influenced the sentiment.
At the Multi Commodity Exchange, gold for delivery in August month fell by Rs 417, or 1.57 percent, to Rs 26,142 per ten grams in business turnover of 12,288 lots. Similarly, the yellow metal for delivery in October contract lost Rs 420, or 1.57 percent, to Rs 26,275 per ten grams in 520 lots.
Market analysts said speculators offloaded their positions in tandem with a weak global trend mainly kept pressure on gold prices at futures trade. Meanwhile, gold in London dropped 2 percent to 1,251.84 dollar an ounce.


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