Gold prices fell 0.26 per cent to Rs 31,621 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 December fell Rs 81 or 0.26 per cent to Rs 31,621 per 10 grams in a business turnover of 498 lots.

Also, the metal for delivery in October declined by Rs 76 or 0.24 per cent to Rs 31,317 per 10 grams in three lots.

Analysts attributed the fall in prices to a weak trend overseas and profit-booking by speculators at prevailing levels.

Meanwhile, gold was trading 0.32 per cent down at $1,341.50 an ounce in Singapore.