Gold prices moved down by 0.54 per cent to Rs 28,513 per ten gram in futures trade on Thursday as speculators trimmed their positions.
Analysts said weak global trend after US lawmakers reached an agreement to increase the debt ceiling and avert a government default affected the sentiment, as it reduced demand for precious metals as a haven assets.
At the Multi Commodity Exchange, gold for delivery in far-month February moved down by Rs 155, or 0.54 per cent, to Rs 28,513 per ten gram in business turnover of 34 lots.
Similarly, the yellow metal for delivery in December fell by Rs 131, or 0.45 per cent, to Rs 28,817 per ten gram in 2,064 lots.
Meanwhile, gold lost 0.5 per cent to $1,275.95 an ounce in Singapore.
With inputs from PTI