Gold prices drifted lower by 0.90 per cent to Rs 28,170 per 10 grams in futures trade today as participants cut down their bets, tracking a weak global trend.
At the Multi Commodity Exchange, gold prices for delivery in December month fell by Rs 257, or 0.67 per cent to Rs 28,170 per ten grams in business turnover of 160 lots.
Likewise, the metal for delivery in far-month February month moved down by Rs 188, or 0.67 per cent to Rs 27,923 per ten grams in 3,659 lots.
Analysts attributed the fall in gold prices trimming of positions by participants, tracking a weak trend in global market where gold fell to a near 10-month low as the dollar strengthened following Italy's vote against constitutional reform that prompted the country's prime minister to resign.
Globally, gold was down 1 per cent at USD 1,165.29 in London. It touched USD 1,160.80 on Thursday, the lowest since early February.
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