Gold prices on Thursday fell by Rs 42 to Rs 37,870 per 10 gram in futures trade as participants cut down their bets even as the metal gained overseas.
On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 42, or 0.11 per cent, to Rs 37,870 per 10 gram in a business turnover of 1,708 lots.
The yellow metal for April delivery plunged Rs 49, or 0.13 per cent, to Rs 37,921 per 10 gram in 111 lots.
Analysts attributed the fall in prices to trimming of positions by investors.
Globally, gold was trading 0.10 per cent higher at USD 1,480.20 an ounce in New York.
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