Gold futures prices declined by Rs 74 to Rs 16,510 per ten gram today

RELATED ARTICLES Iran paying for grain with gold, oil: Traders Gold near 2-month high, traders defer buying Gold rebounds after heavy loss, Asia rushes to buy Gold rises to 8-week high, firm euro supports Gold seen extending gains past near 6-wk high

as speculators reduced their positions on the back of weakening global trend.

At the Multi Commodity Exchange, gold for June contract fell by Rs 74, or 0.45 per cent, to Rs 16,510 per ten gram with an open interest of 224 lots.

The metal for delivery in February also eased by Rs 51, or 0.31 per cent, to Rs 16,390 per ten gram in 10,757 lots.

Marketmen attributed the fall in gold futures prices to offloading of position by traders on the back of weakening global trend.

They said weak signals from domestic spot markets due to break in marriage season also influenced the sentiment.

Meanwhile, gold lost USD 9.60 at USD 1,087.20 an ounce in New York last evening.