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Gold prices fell 0.38 per cent to Rs 31,577 per 10 grams at the futures trade today as participants trimmed their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in October month declined by Rs 120 or 0.38 per cent to Rs 31,577 per ten grams in a business turnover of 1,443 lots.
Similarly, the yellow metal for delivery in August traded lower by Rs 116 or 0.37 per cent to Rs 31,492 per ten grams in 6 lots.
Analysts said a weak trend in the overseas markets, where gold declined for a second day before the release of official US jobs data that may confirm steady employment and throw some light on the possible timing of an interest-rate increase, mainly influenced gold prices at the futures trade here.
Meanwhile, gold fell 0.4 per cent to $1,352.48 an ounce in Singapore. The metal had gained to $1,367.34 on August 2, the highest intra-day level since July 11.
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