Gold is trading at Rs 31,112 per 10 grams in futures trade on Wednesday as participants reduced their positions.
New Delhi: Gold prices fell Rs 63 to Rs 31,112 per 10 grams in futures trade on Wednesday as participants reduced their positions, largely in line with a weak trend overseas.
Profit-booking at existing levels also weighed on gold futures. At the Multi Commodity Exchange, gold for delivery in June was trading lower by Rs 63, or 0.20 per cent, at Rs 31,112 per 10 grams in a business turnover of 471 lots.
Also, the metal for delivery in far-month August shed Rs 52, or 0.17 per cent, to Rs 31,370 per 10 grams in 54 lots.
Analysts said besides a weak trend overseas, profit-booking by speculators at current levels weighed on gold prices in futures trade here.
Globally, gold slid 1.73 per cent to USD 1,290.30 an ounce, its lowest level this year on surging US bond yields and a stronger dollar in New York on Tuesday.