After hitting record high in yesterday's trade, gold prices fell 0.51% to Rs 31,647 per 10 grams in futures trade today as speculators indulged in booking profits amid a weakening trend overseas.
At the Multi Commodity Exchange, gold for delivery in February fell by Rs 163, or 0.51%, to Rs 31,647 per 10 grams, with a business turnover of 27 lots.
The December contract shed Rs 150, or 0.48%, to Rs 31,298 per 10 grams, with a business turnover of 468 lots.
For delivery in October, the prices lost Rs 146, or 0.47%, to Rs 30,924 per 10 grams, with a business volume of 7,226 lots.
Marketmen said besides profit-booking by speculators at prevailing higher levels, a weak trend overseas on speculation that US policy makers will not embark on a fresh round of stimulus, with the dollar rising before reports may show improved consumer sentiment and manufacturing, led to a fall in silver futures prices here.
Meanwhile in Singapore, gold traded 0.4% lower at $1,658.30 an ounce. It reached $1,676.90 an ounce, the highest since April.
