Gold futures shed 0.21% as traders offload positions

Metal slips to two-month low overseas as a stronger dollar reduces appeal of the bullion

Gold prices moved down by 0.21 per cent to Rs 27,754 per 10 gram in futures trade today as participants trimmed positions amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in October eased by Rs 59, or 0.21 per cent, to Rs 27,754 per 10 grams in a business turnover of 1,397 lots.

December gold shed Rs 53, or 0.19 per cent, to Rs 27,805 per 10 grams in 28 lots.

Analysts said off-loading of positions by speculators, taking weak cues from the global markets where it slipped to two-month low as strengthening dollar reduced appeal of the bullion, put pressure on gold prices at futures trade here.