New Delhi: Gold prices fell 0.11 percent to Rs 28,699 per 10 gram in futures trade on Wednesday as participants reduced their positions largely with a weak trend overseas amidst subdued demand at domestic spot markets.

At the Multi Commodity Exchange, gold for delivery in October contracts eased by Rs 50, or 0.11 percent, to Rs 28,699 per 10 gram in business turnover of 549 lots.

Likewise, the metal for delivery in far-month December shed Rs 28 or 0.10 percent, to Rs 28,721 per 10 gram in 54 lots.

Analysts said there is a weakening trend in the overseas markets as the dollar strengthened, reducing the appeal of the metal and pressuring the gold prices in futures trade.

Globally, gold fell to USD 1,309.23 an ounce in Singapore from USD 1,309.51 on Tuesday.--PTI