Gold futures fall 0.27 per cent on weak global cues

New Delhi: Gold prices fell by 0.27 per cent to Rs 28,175 per ten gram in futures trading today as participants trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in August declined by Rs 75, or 0.27 per cent to Rs 28,175 per ten gram in a business turnover of 520 lots.

Similarly, the yellow metal for delivery in October contracts traded lower by Rs 75, or 0.26 per cent to Rs 28,405 per ten gram in 9 lots.

Analysts said a weakening trend overseas as the dollar strengthened against a basket of major currencies on the back of economic data that topped analysts expectations, reducing investors appetite in the metal, weighed on the gold prices in futures trade here.

Meanwhile, gold fell 0.22 per cent to USD 1,238.56 an ounce in Singapore.