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Gold prices went down by 0.26 per cent to Rs 27,711 per 10 grams at the futures trade today as participants lightened their bets tracking a weak movement overseas.
At the Multi Commodity Exchange, gold for delivery in August was down Rs 73 or 0.26 per cent at Rs 27,711 per 10 grams in a business turnover of 40 lots.
Similarly, the metal for delivery in far-month October was trading lower by Rs 64 or 0.23 per cent at Rs 27,888 per 10 grams in 18 lots.
Analysts attributed the fall in prices to a weak trend overseas as a relatively solid US jobs data raised hopes for higher US interest rates this year, eroding demand for the precious metal as a safe haven investment.
Meanwhile, gold dropped 0.15 per cent to $1,210.40 an ounce in Singapore.
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