 "Gold discounts fall as arbitrage window shrinks; consumer demand still low")
Gold prices fell by Rs 34 to Rs 31,110 per 10 gram in futures trade on Tuesday as participants indulged in profit-booking at prevailing levels amid a weak trend overseas.
In futures trade at the Multi Commodity Exchange, gold for delivery in December shed Rs 34 or 0.11 per cent to Rs 31,110 per 10 gram in a business turnover of just one lot.
Similarly, metal for delivery in October eased by Rs 28 or 0.09 per cent to Rs 30,957 per 10 gram in 268 lots.
Analysts attributed the fall in gold futures to profit-booking by traders at existing levels and weakness in the precious metals in global market.
Globally, gold was trading a shade lower at $1,326.60 an ounce in Singapore on Tuesday.
