Gold prices fell by Rs 145 to Rs 27,996 per 10 grams in futures trade on Thursday as speculators offloaded their positions on the back of a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in December month fell by Rs 145, or 0.52 per cent to Rs 27,996 per 10 grams in a business turnover of 3,503 lots.
PERSPECTIVE:
Safe-haven status adds glitter to gold Likewise, the metal for delivery in December contract lost Rs 142, or 0.50 per cent to Rs 28,330 per 10 grams in 21,748 lots.
Market analysts attributed the fall in gold prices to weakening trend in global markets as dollar rose against major currencies as investors sought haven investments after the US Federal Reserve said there are significant downside risks to the economic outlook.
Meanwhile, gold declined by 0.8 per cent to $1,767.67 an ounce in the Asian region.
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