Gold prices fell 0.16 per cent to Rs 28,487 per 10 grams in futures trade today as speculators reduced their positions amid weak global cues.
At the Multi Commodity Exchange, gold for delivery in February month fell by Rs 46, or 0.16 per cent, to Rs 28,487 per 10 grams in business turnover of 40 lots.
Similarly, the metal for delivery in April contracts traded lower by Rs 28, or 0.10 per cent, to Rs 28,480 per 10 gram in 3 lots.
Market analysts attributed the fall in gold futures to a weak trend overseas.
Globally, gold shed 0.02 per cent to USD 1,248 an ounce in Singapore.
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