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Gold prices fell 0.45 per cent to Rs 31,790 per 10 gram at the futures trade as speculators trimmed their bets owing to weak demand.
At the Multi Commodity Exchange, gold prices for delivery in February next year fell Rs 145, or 0.45 per cent, to Rs 31,790 per 10 gram in a business turnover of 15,285 lots. Gold for delivery in far-month April, too, quoted down by Rs 119, or 0.37 per cent, at Rs 31,970 per 10 gram in 1,875 lots.
Analysts attributed the fall in prices to trimming of positions by participants owing to a weak trend in domestic market.
However, internationally gold prices were steady, supported by expectations of fewer rate hikes by the US Federal Reserve next year. US gold futures rose 0.10 per cent to $1,243.28 an ounce. Gold prices rose 0.11 per cent to $1,243.09 an ounce in Singapore.
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