Gold prices fell Rs 103 to Rs 28,840 per 10 grams at the futures trade today as participants reduced their positions, largely in line with a weak trend overseas. Profit-booking at existing levels also weighed on the yellow metal.
At the Multi Commodity Exchange, gold for delivery in far-month August was trading lower by Rs 103 or 0.36 per cent at Rs 28,840 per 10 grams in a business turnover of 263 lots. The metal for delivery in June shed Rs 17 or 0.06 per cent to Rs 28,635 per 10 grams in 14 lots.
Analysts said besides a weak global trend, profit-booking by speculators at current levels weighed on gold futures here.
Globally, gold fell 0.35 per cent to $1,261 an ounce in Singapore today.