New Delhi - Gold prices fell by 0.74 percent to Rs 26,314 per 10 grams in futures trade on Tuesday as speculators reduced their exposures amid a weak trend overseas on stronger dollar.

At the Multi Commodity Exchange, gold for delivery in December fell sharply by Rs 195, or 0.74 percent, to Rs 26,314 per 10 grams in a business turnover of just one lot.

Likewise, the metal for delivery in February next year eased by Rs 172, or 0.65 percent, to Rs 26,767 per 10 grams in 197 lots.

Market analysts said a weak trend in overseas markets where the precious metal retreated from five-week high on outlook for stronger dollar mainly weighed on gold prices at futures trade here.

Globally, gold fell by 0.70 percent to USD 1,203.45 an ounce in Singapore today.

Meanwhile, the metal rallied yesterday to USD 1,221.43, the highest level since October 30, climbing from a three-week low of USD 1,142.88 as some investors ended bets on lower prices. (PTI)