Gold prices fell 1.13 per cent to Rs 27,011 per 10 grams at the futures trade today as speculators reduced their exposures, tracking overnight plunge in precious metals in the global market.
At the Multi Commodity Exchange, gold for delivery in February next year fell sharply by Rs 309, or 1.13 per cent, to Rs 27,011 per 10 grams, in a business turnover of 1,725 lots.
Likewise, the metal for delivery in April 2015 eased by Rs 281, or 1.02 per cent, to Rs 27,160 per 10 grams, in 14 lots.
Market analysts said a weak trend in overseas market, where the precious metal retreated by 2.32 per cent to $1,193.50 after positive US manufacturing data supported the case for higher borrowing costs next year weighed on gold prices at the futures trade here.