 "Gold up 6.7% in Jan on renewed prospect as safe asset")
Gold prices drifted lower by 0.20% to Rs 31,446 per 10 grams in futures trade today as participants reduced their exposures, triggered by a weak trend overseas.
At Multi Commodity Exchange, gold for delivery in October fell by Rs 62 or 0.20% to Rs 31,446 per ten grams in business turnover of 107 lots.
The metal for delivery in August contracts traded lower by Rs 46 or 0.15% to Rs 31,048 per ten gram in 893 lots.
Analysts said offloading of positions by traders on the back of a weak trend in the overseas markets mainly influenced gold prices at futures trade.
Globally, gold traded lower by 0.03% to USD 1,331.30 an ounce in Singapore.
