Gold futures fell marginally in trade and were down by 0.10 per cent to Rs 26,706 per 10 grams today as participants cut bets amid a weak global trend. Besides, profit-booking by speculators weighed on gold prices.
At Multi Commodity Exchange, gold for delivery in October shed Rs 28, or 0.10 per cent, to Rs 26,706 per 10 grams in a business turnover of 52 lots. Also, the metal for delivery in far-month December declined by Rs 26, or 0.10 per cent, to Rs 26,938 per 10 grams in 14 lots.
Gold rates in India are expected to see a subdued trend on expectations that the US Federal Reserve would hike interest rates sometime this year. A hike in interest rates in the US would people away from gold into government securities in the US.
With inputs from PTI