NEW DELHI: Gold prices fell in futures trading from its record high levels by losing 0.58 per cent today as traders indulged in reducing positions in tandem with a weakening global trend. Gold for far-month April contract fell by 0.58 per cent to Rs 16,745 per ten gram with business turnover in 12 lots. The metal for February contract also declined by 0.51 per cent to Rs 16,740 per ten gram with a business turnover in 516 lots, December month contract traded lower by the same margin at Rs 16,681 per ten gram in 3,601 lots. Marketmen said emergence of selling at existing higher levels and weakening trend in overseas market mainly led to fall in gold prices at futures market. Meanwhile, gold fell by 14.50 dollar at 1102.30 dollar an ounce in New York last evening, after touching a record high of 1,126.40 dollar.

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