Gold prices moved down 0.3 per cent to Rs 28,868 per 10 gm at the futures trade today after participants offloaded partial positions, taking weak cues from the global market.
On the Multi Commodity Exchange, gold for delivery in February declined Rs 86 or 0.3 per cent to Rs 28,868 per 10 gm in a business turnover of 474 lots. Likewise, the metal for delivery in April shed Rs 76 or 0.27 per cent to Rs 28,397 per 10 gm in 15 lots.
Market analysts said a weak trend in the overseas market as investors assessed the probability of a reduction in monetary stimulus this month after the US added more workers than forecast in November, mainly put pressure on gold prices at the futures trade.
Globally, the yellow metal fell 0.2 per cent to $1,228.30 an ounce in Singapore today.