Gold prices drifted lower by 0.17 per cent to Rs 28,754 per 10 grams in futures trade today as participants cut their bets amid a weak global trend.
Besides, profit-booking by speculators also weighed on gold prices.
At the Multi Commodity Exchange, gold prices for delivery in February month declined by Rs 49, or 0.17 per cent to Rs 28,754 per ten grams in business turnover of 320 lots.
Likewise, the metal for delivery in far-month April contracts was trading lower by Rs 32, or 0.11 per cent to Rs 28,804 per ten grams in 28 lots.
Analysts said trimming of positions by speculators in line with a weak trend overseas mainly attributed the slide in gold prices at futures trade.
Meanwhile, gold fell 0.17 per cent to USD 1,215.60 an ounce in Singapore.