Gold prices moved down by 0.25 per cent to Rs 28,960 per 10 gm at the futures trade today after participants offloaded partial positions, taking weak cues from the global market.
On the Multi Commodity Exchange, gold for delivery in February declined by Rs 74 or 0.25 per cent to Rs 28,960 per 10 gm in a business turnover of 1,326 lots.
Likewise, the metal for delivery in April shed Rs 47 or 0.17 per cent to Rs 28,363 per 10 gm in 85 lots.
Market analysts said a weak trend in the overseas market as speculation that the Federal Reserve will continue reducing monetary stimulus, mainly put pressure on gold prices at the futures trade here.
Globally, the yellow metal traded lower at $1,242.23 an ounce in Singapore today.