Gold prices fell 0.31 per cent to Rs 27,861 per 10 grams at the futures trade today as participants cut down their bets amid a weak global trend.
At the Multi Commodity Exchange, gold prices for delivery in February declined Rs 87 or 0.31 per cent to Rs 27,861 per ten grams in a business turnover of 992 lots.
Similarly, the metal for delivery in far-month April was trading lower by Rs 67 or 0.24 per cent to Rs 27,840 per ten grams in 76 lots.
Analysts attributed the fall in prices to trimming of positions by participants, tracking a weak trend in global market.
Meanwhile, gold fell 0.29 per cent to $1,176.80 an ounce in Singapore.