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Gold prices fell Rs 115 to Rs 28,726 per 10 gram at the futures trading today as participants cut down their bets after the precious metal fell for the ninth day in overseas market.
At the Multi Commodity Exchange, gold for delivery in far-month August was trading lower by Rs 115 or 0.40 per cent to Rs 28,726 per 10 gram in a business turnover of 44 lots.
Similarly, the metal for delivery in June eased by Rs 112 or 0.39 per cent to Rs 28,491 per 10 gram in 102 lots.
Analysts attributed the fall in gold futures to trimming of positions by traders, tracking a weak trend in global market as the prospect of higher borrowing costs in the US dampened the appeal for precious metals.
Globally, gold fell 0.9 per cent to $1,201.90 an ounce in Singapore, a level last seen in February.
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