Gold prices fell by 0.68% to Rs 31,299 per 10 grams in futures trade today as speculators offloaded positions on the back of a lower global trend amid subdued spot demand at prevailing higher levels.
Sentiment turned bearish as gold fell in global markets on a firmer dollar after it rallied to the highest level in six months.
At the Multi Commodity Exchange, gold for delivery in October fell by Rs 207, or 0.68%, to Rs 31,299 per 10 grams, with a business turnover of 2,965 lots.
December gold declined by Rs 195, or 0.61%, to Rs 31,608 per 10 grams in 508 lots.
Marketmen said speculators offloaded their positions in tandem with a weak trend in overseas market, which led to the fall in gold prices at futures trade.
A weak trend at the domestic spot markets on subdued demand at current levels too put pressure, they said.
Meanwhile, gold lost 0.69% to $1,760.80 an ounce in Singapore.