Continuing its losing streak for the third day, gold prices fell 0.34 per cent to Rs 27,637 per ten gram at the futures trade today as speculators engaged in offloading positions due to weak global trend.
On the Multi Commodity Exchange, gold for delivery in August declined Rs 94 or 0.34 per cent to Rs 27,637 per ten gram in a business turnover of 1,950 lots.
Similarly, the yellow metal for delivery in far-month October lost Rs 71 or 0.26 per cent to Rs 27,828 per ten gram in 36 lots.
Analysts attributed the fall in gold futures to a weak trend overseas as investors weighed the outlook for the US economy against speculation that a rally to the highest level in two months may spur sales.
Meanwhile, the yellow metal shed 0.6 per cent to $1,310.70 an ounce in Singapore.