Gold prices fall by 0.3% in futures trade

Gold prices today fell Rs 76 to Rs 26,777 per 10 gram in futures trade amid a weak global trend.

At Multi Commodity Exchange, gold delivery in far-month February next year fell Rs 76, or 0.28%, to Rs 26,777 per 10 gram, in a business turnover of four lots.

On similar lines, the metal for delivery in December was also trading at Rs 68, or 0.26% down, at Rs 26,553 per ten gram, in business volume of 600 lots.

Analysts attributed the fall in gold futures to a weak global trend where it held at three-week lows as investors assessed the strength of the US economy, with bets rising that the Federal Reserve will start to increase interest rates from December.

In the international market, gold fell 0.88%, to $1,145.50 an ounce in New York yesterday.

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