New Delhi: Continuing its slide, gold slipped below Rs 26,000 per 10 gm in the futures market on Friday as speculators engaged in reducing positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in June fell by Rs 156, or 0.60 percent, to Rs 25,975 per 10 gm in business turnover of 21,223 lots.
Similarly, the yellow metal for delivery in the August contract declined by Rs 131, or 0.50 percent, to Rs 26,081 per 10 gm in 1,721 lots.
Analysts attributed the fall in gold futures to weakening global trend as exchange-traded product holdings shrank, the dollar strengthened and a US Federal Reserve policymaker said that stimulus may be reduced within months.
"Gold prices likely to fall further in coming days as investors have been shifting funds towards rising equity markets and strengthening dollar reduced demand for safe haven investments," said Rakesh Anand, an analyst.
Globally, gold fell 0.7 percent to USD 1,376.69 an ounce in London.


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