Gold futures today fell by 0.34% to to Rs 31,386 per 10 grams as speculators reduced their positions, taking weak cues from overseas.
At the Multi Commodity Exchange, February gold down Rs 107, or 0.34%, to Rs 31,386 per 10 gram in a business turnover of 2,774 lots.
The April delivery fell by Rs 98, or 0.31%, to Rs 31,795 per 10 grams in 125 lots.
Market analysts attributed the fall in gold futures prices to a weak trend overseas where it dropped for the first time in four days as some investors sold the metal after prices climbed to a one-week high amid speculation the US Federal Reserve will expand monetary stimulus to boost the economy.
Meanwhile, gold fell 0.4% to $1,706.95 an ounce in Singapore in early trade today.
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