Gold prices fell Rs 27 to Rs 29,078 per 10 gram at the futures trade as participants indulged in profit-booking at prevailing levels amid a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in October shed Rs 27 or 0.09 per cent to Rs 29,078 per 10 gram in a business turnover of 383 lots. Similarly, the metal for delivery in far-month December eased by Rs 15 or 0.05 per cent to Rs 29,212 per 10 gram in seven lots.
Analysts attributed the fall in gold futures to profit-booking by traders at existing levels and weakness in the precious metals in the global market as the US dollar strengthened against a basket of major currencies ahead of an annual meeting of central bankers this week.
Globally, gold was trading 0.53 per cent lower at $1,284.40 an ounce in New York yesterday.