Gold prices fell sharply by Rs 264 to Rs 27,600 per ten grams at the futures trade today amid a weak trend overseas and profit-booking by speculators.
On the Multi Commodity Exchange, gold for delivery in February fell Rs 264 or 0.95 per cent to Rs 27,600 per 10 grams in a business turnover of 497 lots.
Likewise, the metal for delivery in far-month April was down by Rs 237 or 0.85 per cent to Rs 27,764 per 10 grams in 42 lots.
Analysts said besides profit-booking by speculators, a weak trend in the overseas markets ahead of Federal Reserve policy meet, weighed on gold prices at the futures trade here.
Globally, the yellow metal dropped 0.7 per cent to $1,272.44 an ounce Singapore today, the lowest level since January 19.