Gold futures prices fell 0.19 per cent to Rs 31,010 per 10 grams today as speculators reduced their exposures amid a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in December fell Rs 58 or 0.19 per cent to Rs 31,010 per 10 grams with a business turnover of 1,743 lots.

Similarly, the metal for delivery in February moved down by Rs 57 or 0.18 per cent to Rs 31,355 per 10 grams with a business turnover of 360 lots.

Globally, spot gold fell as much as 0.2 per cent to $1,725 an ounce in Singapore.

Marketmen said a weak trend in global markets ahead of policy setting Federal Open Market committee meeting from today amid signs that the US economy is improving, reduced the demand for bullion as an alternative investment.

(This article was published on October 23, 2012)
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