Tracking a weak global trend, gold prices fell 0.33 per cent to Rs 31,061 per ten grams at the futures market today as speculators off-loaded their positions.
On the Multi Commodity Exchange, gold for delivery in October fell Rs 104 or 0.33 per cent to Rs 31,061 per ten grams in a business turnover of 788 lots.
Similarly, the yellow metal for delivery in far-month December lost Rs 51 or 0.16 per cent to Rs 30,930 per ten grams in 89 lots.
Market analysts said the fall in gold futures was mostly attributed to a weak trend in the global market as investors awaited minutes from the US central bank’s July policy meeting for clues on when it will begin scaling back its commodities-friendly stimulus steps.
They said, however, the falling rupee which made imports costlier, limited the fall.
Meanwhile, gold in Singapore dropped 0.28 per cent to $1,361.80 an ounce.