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Amid a weak trend overseas, gold prices fell 0.33 per cent to Rs 27,132 per 10 gram at the futures trade today as speculators indulged in trimming positions.
On the Multi Commodity Exchange, gold for delivery in far-month December eased by Rs 89 or 0.33 per cent to Rs 27,132 per 10 gram in a business turnover of 15 lots.
Likewise, the metal for delivery in October shed Rs 78 or 0.29 per cent to Rs 26,908 per 10 gram in 355 lots.
Analysts said a weak trend in the overseas market as speculation that US borrowing costs will rise sooner-than-expected strengthened the dollar, eroding the demand for precious metals as an alternative investment, put pressure on gold prices at the futures trade here.
Besides, a weak trend in the domestic physical market on slackened demand due to ongoing ‘Sharads’, an inauspicious fortnight in Hindu mythology for making fresh purchases, weighed on the prices, they said.
Globally, gold lost 0.7 per cent to trade $1,232.33 an ounce in Singapore today, the lowest since January 23.
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