Gold prices fell 0.04 per cent in futures trade Tuesday as speculators tightened positions in domestic market post weak overseas cues.
In futures trading on the Multi Commodity Exchange, gold for delivery in June contracts was trading lower by Rs 14, or 0.04 per cent, to Rs 31,549 per 10 gram in a business turnover of 9,962 lots.
Despite remaining a safe haven for the past day, the gold prices took a beating in the overseas market. The yellow metal prices dipped over speculation of US-China trade war escalation resulting in global economic slowdown, say reports.
On similar notes, the August contract for gold fell by Rs 36, or 0.11 per cent, to Rs 31,695 per 10 gram in a business volume of 5,275 lots.
Gold prices fell 0.05 per cent to USD 1,283.20 an ounce in New York.
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