Gold prices fell 0.23 per cent to Rs 31,280 per 10 grams at the futures trade today as participants cut down their bets amid a weak global trend.
At the Multi Commodity Exchange, gold prices for delivery in far-month December fell Rs 71 or 0.23 per cent to Rs 31,280 per 10 grams in a business turnover of 12 lots.
Also, the metal for delivery in October declined by Rs 67 or 0.21 per cent to Rs 31,150 per 315 grams in 315 lots.
Analysts attributed the fall in prices to a weak trend overseas on renewed speculation of an interest rate hike by the US Federal Reserve.
Meanwhile, gold was trading 0.02 per cent down at $1,327.60 an ounce in Singapore today.