Gold futures fall to Rs 31,395 per 10 gm

Mumbai-India (May 14)  Gold prices fell Rs 123 or 0.39 per cent to Rs 31,395 per 10 grams at the futures trade as participants trimmed their positions even as the precious metal edged up overseas.

At the Multi Commodity Exchange, gold for delivery in June declined Rs 123 or 0.39 per cent to Rs 31,395 per 10 grams in a business turnover of 11 lots. The far-month August contract of the precious metal traded lower by Rs 103 or 0.32 per cent at Rs 31,630 per 10 grams in 11 lots.

Analysts said trimming of positions by speculators mainly put pressure on gold prices. Meanwhile, gold rose 0.09 per cent to $1,319.10 an ounce in Singapore.

BusinessLine