Gold futures dropped 1.24 per cent to Rs 28,503 per 10 grams in evening session today as speculators trimmed their positions, tracking a weak trend overseas.
The exchange remained closed in the morning session for 'Id-ul-Fitr' (Ramzan Eid).
At the Multi Commodity Exchange, gold for delivery in far-month October fell by Rs 358, or 1.24 per cent, to Rs 28,503 per 10 grams in business turnover of 137 lots.
Likewise, the metal for delivery in August month contracts declined by Rs 349, or 1.21 per cent, to Rs 28,385 per 10 grams in 137 lots.
Market analysts said the fall in gold futures was mainly in line with a weakening trend overseas.
Meanwhile, gold fell 1.34 per cent to USD 1,239.70 an ounce in New York in early trade today.
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