At the Multi Commodity Exchange, gold for delivery in April fell by Rs 109, or 0.39 per cent, to Rs 27,840 per 10 grams in a business turnover of 19 lots.
Similarly, the metal for delivery in February lost Rs 98, or 0.34 per cent, to Rs 28,456 per 10 grams in 324 lots.
Market analysts attributed the fall in gold futures prices to offloading of positions even as the precious metal rebounded from over three year lows in the overseas markets.
Globally, gold rose 0.30 per cent, to USD 1,207 an ounce in Singapore in early trade today.
Meanwhile, golde closed at USD 1,188.68 on December 19, the lowest since August 3, 2010, after the Federal Reserve said it will reduce stimulus.