Gold prices on futures trade fell today, as traders engaged in trimming positions amid weak global cues.

KheloMCX Commodity Analysts said that speculators discharge positions on the weak spot demand and a weak tendency overseas, because investors weigh the prospects for higher interest rates in the United States before the Federal Reserve begins a monetary policy meeting two days, mainly put pressure on bullion prices at the national capital.

At the Multi Commodity Exchange, Gold for April contract was trading at Rs 26060 down Rs 117, or 0.45 percent. Bullion prices touched an intraday sesion high of Rs 26062 and an intraday session low of Rs 26060.

Similarly, at MCX Gold futures for next-month delivery was trading at Rs 25723 down Rs 60, or 0.23 percent. Prices touched an Intraday high of Rs 25734 and an Intraday low of Rs 25711. So far 621 contracts have been traded on MCX.

Globally, gold traded lower at US $1,154.48 an ounce from US $1,154.81 in Singapore, as investors were hesitant to open fresh long positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day.

On the Comex, gold futures for April delivery shed $4.00, or 0.35%, to trade at $1,149.20 a troy ounce.

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