Gold prices fell by Rs 203, or 0.74 per cent, to Rs 27,328 per 10 grams in futures trade today amid a weakening trend overseas and a rebound in the rupee.
At the Multi Commodity Exchange, February gold fell by Rs 203, or 0.74 per cent, to Rs 27,328 per 10 grams in 8,066 lots.
The April contract lost Rs 202, or 0.73 per cent, to Rs 27,630 per 10 grams in 414 lots.
Market analysts said besides a subdued trend in global markets, a rebound in the rupee value after the Reserve Bank of India imposed restrictions on forward trading to check the slide of the domestic currency pushed up gold prices in futures trade.
The rupee had strengthened by 74 paise to Rs 52.90 per dollar in opening trade in the forex market today.
Meanwhile, gold declined by $5.90 to $1,570.60 an ounce in New York last night.
