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Gold prices went down by 0.31 per cent to Rs 31,090 per 10 grams at the futures trade due to cutting down of positions by participants owing to weak global cues.
At the Multi Commodity Exchange, gold for delivery in June was down Rs 98 or 0.31 per cent at Rs 31,090 per 10 grams in a business turnover of 294 lots. Similarly, the metal for delivery in far-month August was trading lower by Rs 89 or 0.28 per cent at Rs 31,355 per 10 grams in 125 lots.
Analysts attributed the fall in prices to a weak trend overseas. Meanwhile, gold shed 0.02 per cent to $1,298.10 an ounce in Singapore.
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