Gold prices on Wednesday fell Rs 37 to Rs 38,168 per 10 gram in futures trade as speculators reduced their positions amid low demand even as the metal gained overseas.
On the Multi Commodity Exchange, gold contracts for December delivery traded lower by Rs 37, or 0.10 per cent, at Rs 38,168 per 10 gram in a business turnover of 1,647 lots.
Similarly, the metal for delivery in February was down by Rs 58 to Rs 38,173 per 10 gram in 201 lots.
Analysts attributed the fall in gold prices to trimming of positions by participants.
Globally, gold traded 0.11 per cent higher at USD 1,475.90 an ounce in New York.
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