Gold prices weakened by 0.32% to Rs 31,250 per 10 grams in futures trade today as speculators offloaded their positions, tracking a weak spot market trend on sluggish demand even as the metal strengthened overseas.
At the Multi Commodity Exchange, gold for delivery in October fell by Rs 99, or 0.32%, to Rs 31,250 per 10 grams, with a business turnover of 7,522 lots.
December gold lost Rs 86, or 0.27% to Rs 31,611 per 10 grams, with an open interest of 4,043 lots.
Marketmen attributed the weakness in gold futures to sluggish demand at prevailing higher levels in the spot market but overseas trend capped losses.