Gold futures today fell by Rs 169 to Rs 28,861 per 10 grams as participants indulged in cutting bets amid a weak trend overseas. At the Multi Commodity Exchange, gold prices for delivery in August was trading lower by Rs 169, or 0.58 per cent, to Rs 28,861 per 10 grams in a business turnover of 348 lots. Also, the metal for delivery in October declined Rs 136, or 0.47 per cent, to Rs 29,035 per 10 grams in a business volume of 46 lots.
Analysts attributed decline in gold prices at futures trade to trimming of positions by participants, tracking a weak trend in global market. Meanwhile, gold traded 0.47 per cent lower at USD 1,260.10 an ounce in New York yesterday.