Gold prices fell 0.11 per cent to Rs 28,699 per 10 gram at the futures trade today as participants reduced their positions largely with a weak trend overseas amid subdued demand at the domestic spot market.
On the Multi Commodity Exchange, gold for delivery in October eased by Rs 50 or 0.11 per cent to Rs 28,699 per 10 gram in a business turnover of 549 lots.
Likewise, the metal for delivery in far-month December shed Rs 28 or 0.1 per cent to Rs 28,721 per 10 gram in 54 lots.
Analysts said there is a weak trend in the overseas market as the dollar strengthened, reducing the appeal for yellow metal and putting pressure on gold prices at the futures trade.
Globally, gold fell to $1,309.23 an ounce in Singapore from $1,309.51 yesterday.