Amid profit-booking at record levels by speculators and a weak trend overseas, gold futures slipped by 0.53% from their record level to Rs 27,450 per 10 grams on Wednesday.
At the Multi Commodity Exchange, gold for delivery in October fell by Rs 147, or 0.53%, to Rs 27,450 per 10 grams, with a business turnover of 1,665 lots. It had galloped to a record high of Rs 28,284 per 10 grams in Tuesday's volatile session.
Gold for delivery in December also lost Rs 146, or 0.52%, to Rs 27,710 per 10 grams, with a trade turnover of 72 lots.
Analysts said profit-booking by speculators at record high levels and a weak trend overseas, where the precious metal slipped from its record level of $1,913.50 an ounce, mainly led to the fall in gold prices in futures trade here.
Also, a weak trend in precious metals in the domestic spot market at prevailing record levels also weighed on gold prices in futures trade here, they said.
Globally, gold fell sharply by $68 to $1,830.10 an ounce in New York last night.