Gold futures on the Multi Commodity Exchange were trading down by Rs 177 at Rs 31,390 per 10 gram at 2.45 pm against the previous closing price of Rs 31,546 as rupee continued to appreciate against dollar.
The yellow metal for October delivery opened on the lower side at Rs 31,405 as the Government economic reforms is expected to increase the flow of dollar into the country and help the rupee appreciate against the dollar.
In Comex, gold for December delivery was trading lower by $16 at $1761 a troy ounce at 2:50 pm.