Gold prices fell by Rs 80 to Rs 31,676 per 10 gram in futures trade Wednesday as speculators reduced exposure despite a firm trend in the precious metal in overseas market.
At the Multi Commodity Exchange, gold for delivery in June traded lower by Rs 80, or 0.25 per cent, at Rs 31,676 per 10 gram in a business turnover of 13,127 lots.
The gold for delivery in August also fell sharply by Rs 78, or 0.24 per cent, to Rs 31,779 per 10 gram in 1,992 lots.
The fall in gold prices in the futures market was mostly due to trimming of positions by participants in the domestic markets, marketmen said.
Globally, however, gold was trading a shade higher by 0.08 per cent at USD 1,291.08 an ounce in Singapore.
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