Gold prices down Rs 79 in futures trade

Gold prices down Rs 79 in futures trade New Delhi: Gold futures prices on Friday fell by 0.30 percent to Rs 26,064 per 10 grams as speculators offloaded their positions in tandem with a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in August fell by Rs 79, or 0.30 percent, to Rs 26,064 per 10 grams in business turnover of 1,660 lots.

Similarly, metal prices for delivery in October declined by Rs 67, or 0.26 percent, to Rs 26,174 per ten grams in 56 lots.

Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas ahead of US jobs data that may add to signs of improving economy, fuelling speculation that the Federal Reserve will scale back monetary stimulus.

Besides, strengthening dollar also putting pressure on gold prices, they said.

Meanwhile, gold prices fell 0.6 percent to USD 1,242.50 an ounce in Singapore.

PTI