Gold futures today fell by 0.77 per cent to Rs 28,559 per 10 grams as speculators booked profits amid a weakening trend overseas.
At the Multi Commodity Exchange, gold for delivery in December declined by Rs 221 or 0.77 per cent to Rs 28,559 per 10 grams with a trading volume of 3,096 lots. Similarly, February contract lost Rs 211 or 0.73 per cent to Rs 28,875 per 10 grams with a business turnover of 346 lots.
Traders said offloading of positions by speculators at prevailing levels and a weak trend overseas as a firm US dollar reduced the appeal for precious metals as an alternative investment.
Meanwhile, gold fell by $1.20 to $1,691.10 an ounce in the Asian region today.