At the Multi Commodity Exchange, gold prices for delivery in far-month February fell by Rs 160, or 0.55 per cent, to Rs 28,880 per 10 gram, in a business turnover of 94 lots.
Also, the metal for December delivery declined by Rs 155, or 0.53 per cent, to Rs 28,976 per 10 gram, in 523 lots.
Analysts attributed the fall in prices to weak trends overseas as dollar strengthened after hints of rate hike in December by US Federal Reserve Chair Janet Yellen, eroding demand for the safe-haven precious metals.
Disclaimer: No Business Standard Journalist was involved in creation of this content