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Gold prices fell 0.37 per cent to Rs 31,095 per 10 grams in futures trade today as participants cut bets, tracking a weak movement overseas. At the Multi Commodity Exchange, gold for delivery in June was down Rs 116, or 0.37 per cent, to Rs 31,095 per 10 grams in a business turnover of 347 lots. Similarly, the metal for delivery in August contracts was trading lower by Rs 96, or 0.31 per cent, to Rs 31,321 per 10 grams in four lots.
Meanwhile, silver prices dropped by 0.34 per cent to Rs 38,873 per kg in futures trading. At the Multi Commodity Exchange, silver for delivery in May month contracts fell by Rs 131, or 0.34 per cent, to Rs 38,873 per kg in a business turnover of 374 lots. Likewise, the white metal for delivery in July contracts moved down by Rs 121, or 0.31 per cent, to Rs 39,549 per kg in 307 lots.
Analysts attributed the fall in prices to trimming of positions by participants, tracking a weak trend in precious metals in global markets.
Meanwhile, gold dropped 0.10 per cent to USD 1,321.30 an ounce in Singapore while silver shed 0.03 per cent to USD 16.46 an ounce.
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