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Gold prices declined by Rs 94 or 0.34 per cent to Rs 27,494 per 10 grams at the futures trade today in tandem with a weakening global trend amid profit-booking by speculators.
At the Multi Commodity Exchange, gold for delivery in February eased by Rs 94 or 0.34 per cent to Rs 27,494 per 10 grams with a business turnover of 2,916 lots. In a similar fashion, April contract lost Rs 86 or 0.31 per cent to Rs 27,856 per 10 grams with a trading volume of 174 lots.
Globally, gold for February delivery fell as much as 0.3 per cent to $1,651.50 an ounce on the Comex in New York, after climbing to $1,668 yesterday, the highest level since December 13.
Analysts said reports of a weakening trend in precious metals and a strong Indian rupee mainly put pressure on gold prices at the futures trade here.
Meanwhile, rupee strengthened by 16 paise to trade at a fresh two-month high of Rs 50.57 per US dollar at the forex market in early trade today.
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