Gold prices eased by 0.5 per cent to Rs 31,071 per 10 gram in futures trade Wednesday as participants booked profits amid firm positive cues.
In futures trading at the Multi Commodity Exchange, gold to be delivered in February contracts fell by Rs 156, or 0.5 per cent, to Rs 31,071 per 10 gram in a business turnover of 12,535 lots.
Gold for delivery in far-month April, too, was down sharply by Rs 198, or 0.63 per cent, at Rs 31,228 per 10 gram in 2,417 lots.
Analysts said the fall in gold prices at futures trade was mostly attributed to profit-booking by participants, but a firm trend overseas capped the losses.
Globally, gold was up 6.06 per cent at USD 1,245.96 an ounce in Singapore.
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