Gold prices fell sharply by Rs 222 to Rs 31,376 per 10 gram in futures trade Monday amid profit-booking by traders at prevailing levels even as the precious metal rose overseas.
At the Multi Commodity Exchange, gold for delivery in February shed Rs 222, or 0.7 per cent, to Rs 31,376 per 10 gram in a business turnover of 12,445 lots.
Analysts attributed the fall in gold futures to profit booking by traders at the existing level but a firm trend overseas, kept losses limited.
Globally, gold was trading 0.10 per cent higher at USD 1,281.25 an ounce in Singapore.
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