Gold futures slip 0.44 per cent to Rs 31,850/10 grams on weak global cues

Gold prices fell 0.44 per cent to Rs 31,850 per 10 grams in futures trade Friday as participants cut down their bets amid a weak global trend.

At the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 141, or 0.44 per cent, to Rs 31,850 per 10 grams in a business turnover of 351 lots.

Also, the metal for delivery in November declined by Rs 130, or 0.41 per cent, to Rs 31,663 per 10 grams in 547 lots.

Analysts attributed the fall in prices trimming of positions by participants, tracking a weak trend in the global market.

Meanwhile, gold fell 0.30 per cent at $1,220.90 an ounce in Singapore.