Amid a weak global trend, gold futures traded down by Rs. 63 at Rs. 31,188 per 10 gram today as speculators reduced their positions.Gold for delivery in far-month October dropped by Rs. 63 or 0.20 per cent to Rs. 31,188 per 10 gram in a business turnover of 26 lots at the Multi Commodity Exchange.
In a similar fashion, the metal for delivery in August shed Rs. 62 or 0.20 per cent to Rs. 30,845 per 10 gram in 314 lots.Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as a stronger dollar and rebound in equities cut the demand for safe haven.
Meanwhile, gold prices fell 0.51 per cent to $1,315.30 an ounce in New York yesterday.