Gold futures prices today fell by 0.33% to Rs 30,952 per 10 grams as speculators reduced their positions, taking weak cues from overseas.
At the Multi Commodity Exchange, the February contract for gold is down by Rs 104, or 0.33%, to Rs 30,952 per 10 gram in a business turnover of 3,346 lots.
The April contract fell by Rs 98, or 0.31%, to Rs 31,374 per 10 grams in 168 lots.
Market analysts attributed the fall in gold futures prices to a weak trend overseas where it dropped to the lowest in more than three months as signs that US lawmakers may be closer to a budget deal boosted equities and reduced demand for the metal as an alternative asset.
Meanwhile, gold fell 1.6% to $1,670.70 an ounce in New York last yesterday after dipping to $1,662, the lowest level since August 31.
