Gold futures prices today declined by 0.45 per cent to Rs. 28,866 per 10 grams due to fresh selling by speculators in tandem with a weak trend overseas, as advance in dollar curbed demand for the precious metal.
On the Multi Commodity Exchange, gold prices for delivery in December lost Rs. 130, or 0.45 per cent, to Rs. 28,866 per 10 grams, clocking a business volume of 1,865 lots.
The precious metal for February contract dropped by Rs. 127, or 0.43 per cent, to Rs. 29,186 per 10 grams, with a business volume of 104 lots.
Market analysts attributed fall in gold prices to a weak trend overseas as the dollar advanced against the euro on lingering debt crisis in the eurozone, curbing demand for precious metals as an alternative investment.
The gold in Asian region, fell 0.2 per cent to USD 1,760 an ounce.
