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Gold futures fell 0.42% to Rs 27,764 per 10 grams today as speculators trimmed positions, tracking weak global trend.
At the Multi Commodity Exchange, gold for delivery in August fell by Rs 118, or 0.42%, to Rs 27,764 per 10 grams in a business turnover of 1,494 lots.
On similar lines, the metal for delivery in far-month October declined by Rs 112, or 0.40%, to Rs 27,905 per 10 grams in 161 lots.
Market analysts said the fall in gold futures was mostly due to off-loading of positions by speculators and a weak trend overseas as a rally in equities damped demand for alternative investment amid concern that physical consumption is faltering.
Meanwhile, gold lost as much as 0.60% to trade at over one-week low of USD 1,296.36 an ounce in Singapore, the lowest since July 16 from USD 1,338.70 on July 11.
