Gold futures down at Rs 31,557 per 10 gram

Mumbai-India (Dec 10)  Gold prices fell Rs 38 to Rs 31,557 per 10 gram at the futures trade as speculators reduced their exposure despite a firm trend in precious metal overseas.

At the Multi Commodity Exchange, gold for delivery in February next year traded lower by Rs 38 or 0.12 per cent at Rs 31,557 per 10 gram in a business turnover of 14,809 lots. Gold for delivery in far-month April, too, fell Rs 13, or 0.04 per cent, to Rs 31,714 per 10 gram in 1,538 lots.

Marketmen said fall in gold prices at the futures trade was mostly due to trimming of positions by participants. Globally, gold was trading a shade higher by 0.09 per cent at $1,247.92 an ounce in Singapore.

BusinessLine