Amid a weak trend overseas, gold prices fell 0.38 per cent to Rs 28,396 per 10 gm at the futures trade today as participants indulged in reducing their positions.
On the Multi Commodity Exchange, gold for delivery in far-month February eased by Rs 108 or 0.38 per cent to Rs 28,396 per 10 gm in a business turnover of 17 lots. Similarly, the metal for delivery in December shed Rs 67 or 0.23 per cent to Rs 28,720 per 10 gm in 569 lots.
Analysts said a weak trend in the overseas market amid speculation that US lawmakers will forge a deal to avoid breaching the nation’s debt ceiling and end a two-week partial government shutdown, mainly weighed on gold futures here.
Globally, the yellow metal fell 0.21 per cent to $1,270.60 an ounce in Singapore today.