Besides, continued profit-booking by speculators at prevailing levels also weighed on gold prices.
At the Multi Commodity Exchange, gold prices for delivery in October contracts fell Rs 63 or 0.20 per cent to Rs 31,043 per 10 grams in business turnover of 37 lots.
Also, the metal for delivery in August declined Rs 48 or 0.16 per cent to Rs 30,689 per 10 gram in 655 lots.
Analysts attributed decline in gold prices at futures trade to weak trend overseas where it fell to a three-week low as gains in equities and a stronger dollar curbed demand for the metal as a store of value.
Meanwhile, gold traded 1.23 per cent down at USD 1,315.30 an ounce in New York yesterday.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%