New Delhi, Feb 21 Gold prices fell 0.31 per cent to Rs 30,437 per 10 grams at the futures market as speculators trimmed positions, taking weak cues from overseas markets.
At the Multi Commodity Exchange, gold for delivery in April declined Rs 95 or 0.31 per cent to Rs 30,437 per ten grams in a business turnover of 399 lots. On similar lines, the yellow metal for delivery in far-month June was trading lower by Rs 91 or 0.30 per cent at Rs 30,590 per ten grams in 26 lots.
An analyst said cutting down of positions by participants in tandem with a weak trend overseas, as the dollar remained strong, kept gold prices down at the futures trade.
Gold prices fell further on Wednesday and hit a one-week low as the dollar steadied after a recovery from last week's three-year low, while investors awaited the minutes of the US Federal Reserve's last policy meeting for clues on the pace of interest rate hikes this year. Gold prices fell 0.17 per cent to $1,326.50 an ounce in Singapore.