Gold prices fell Rs 145 to Rs 26,643 per 10 grams in futures trade on Tuesday as participants trimmed their positions, largely in line with a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in December was trading lower by Rs 145, or 0.54 per cent, at Rs 26,643 per 10 grams in a business turnover of 728 lots.
Also, the metal for delivery in far-month February next year shed Rs 139, or 0.52 per cent, to Rs 26,850 per 10 grams in 32 lots.
Analysts said a weakening trend in the overseas markets where gold retreated from seven-week high as investors weighed the probable timing of the first US interest rate increase since 2006, with one Federal Reserve policy maker saying that the move before year-end was justified while others differed, weighed on the precious metal in futures trade.
Globally, gold fell 0.5 per cent to USD 1,157.95 an ounce in Singapore.