Gold prices moved down by 0.35 per cent to Rs 27,990 per 10 gram at the futures trade today after participants offloaded partial positions, taking weak cues from global market.
On the Multi Commodity Exchange, gold for delivery in August declined by Rs 97 or 0.35 per cent to Rs 27,990 per 10 gram in a business turnover of 176 lots.
Likewise, the metal for delivery in far-month October contract shed Rs 88 or 0.31 per cent to Rs 28,040 per 10 gram in four lots.
Market analysts said a weak trend in overseas market as signs of easing geopolitical tensions in Ukraine reduced the demand for safe haven mainly put pressure on the precious metal at the futures trade here.
Globally, the yellow metal traded 0.3 per cent lower at $1,308.20 an ounce in Singapore today.