Gold futures fell by Rs 31 to Rs 31,200 per 10 grams today as participants reduced their bets amid a weak trend overseas.
At the Multi Commodity Exchange, gold prices for delivery in far-month August was trading lower by Rs 31, or 0.10 per cent, to Rs 31,200 per 10 grams in a business turnover of 2 lots.
Also, the metal for delivery in June contract declined Rs 23, or 0.07 per cent, to Rs 30,955 per 10 grams in a business volume of 151 lots.
Analysts attributed the decline to trimming of positions by participants, tracking a weak trend in the global market where the precious metal edged down to near its lowest levels this year, pressured by a firm US dollar amid surging treasury yields.
Meanwhile, gold traded 0.19 per cent lower at USD 1,287.80 an ounce in Singapore.