NEW DELHI: Gold prices declined by Rs 133 to Rs 16,954 per ten grams in futures trading on Tuesday as traders indulged in reducing their positions in tandem with a weakening global trend.
Trading sentiments turned weak as gold decline from a four-month high as the dollar recovered from a decline against the euro, reducing the metal's appeal as a currency hedge.
At the Multi Commodity Exchange, gold for October contract fell by Rs 133, or 0.78 percent to Rs 16,954 per ten grams with an open interest of 272 lots.
The metal for delivery in June contract also fell by Rs 111, or 0.66 per cent to Rs 15,795 per ten grams in 13,677 lots.
Market analysts said fresh selling by traders in tandem with a weakening global trend mainly led to fall in gold prices at futures market.
Meanwhile, gold lost 3.88 dollar to 1,152.32 dollar an ounce in London.
