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Gold prices dropped 0.37 per cent to Rs 31,356 per 10 grams in futures trade today as speculators trimmed their positions, tracking a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in June month fell by Rs 118, or 0.37 per cent to Rs 31,356 per 10 grams in business turnover of 307 lots.
On similar lines, the yellow metal for delivery in far-month August contracts declined by Rs 113, or 0.36 per cent to Rs 31,639 per 10 grams in 25 lots.
Analysts said participants offloaded positions due to a weak trend overseas where gold prices eased on profit-taking, after breaking above USD 1,300 in the previous session when US President Donald Trump's decision to call off a meeting with North Korean leader Kim Jong Un triggered safe-haven buying.
Globally, gold fell 0.18 per cent to USD 1,301.80 an ounce in Singapore.
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