Amid a weak trend overseas and profit-booking by speculators, gold prices fell 0.71 per cent to Rs 28,303 per 10 grams at the futures trade today.
On the Multi Commodity Exchange, gold for delivery in June eased by Rs 202 or 0.71 per cent to Rs 28,303 per 10 grams in a business turnover of 21 lots.
Likewise, the metal for delivery in August shed Rs 149 or 0.53 per cent to Rs 27,851 per 10 gm in 1,015 lots.
Analysts said a weak trend in the overseas markets as investors assessed prospects for further cuts to the US Federal Reserve’s stimulus programme amid signs of recovery in the world’s largest economy, put pressure on gold prices at the futures trade here.
Globally, gold fell one per cent to $1,282 an ounce in Singapore today, the lowest since April 1, 2014.