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Gold prices fell by 0.34 per cent to Rs 27,755 per ten grams in futures trade today as speculators trimmed their positions taking weak cues from the global markets.
Gold for delivery in far-month August contracts shed Rs 94, or 0.34 per cent, to Rs 27,755 per ten grams in business turnover of 20 lots in futures trading at the Multi Commodity Exchange.
In a similar fashion, the metal for delivery in June month contracts fell by Rs 85, or 0.31 per cent, to Rs 27,532 per ten grams in 422 lots.
Analysts said the fall in the yellow metal’s prices at futures trade was mostly in tandem with a weak trend overseas before the US Federal Reserve releases minutes of its latest meeting and investors assess economic data for clues on when interest rates will rise.
Globally, gold declined by 0.4 per cent to USD 1,220.50 an ounce in Singapore.
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