Gold down in futures trade on global cues

Gold futures prices today fell by Rs 67% to Rs 31,155 per 10 gm largely in tandem with weakening trend in the global markets amid subdued demand in spot markets.

At the Multi Commodity Exchange, the February contract fell by Rs 67, or 0.15%, to Rs 31,155 per 10 gm in a business turnover of 6,223 lots.

The April contract fell by Rs 63, or 0.13%, to Rs 31,570 per 10 gm in 207 lots.

Market analysts attributed the fall in gold futures prices to a weak trend overseas. Besides, fall in spot demand also kept pressure on the precious metal prices, they added.

Meanwhile, gold eased at $1,697.35 an ounce in Singapore time.