Gold prices fell Rs 119 to Rs 31,613 per 10 gram at the futures trade due to profit-booking by traders at prevailing levels even as the precious metal gained overseas. At the Multi Commodity Exchange, gold for delivery in February shed Rs 119 or 0.38 per cent to Rs 31,613 per 10 gram in a business turnover of 14,522 lots.
Analysts attributed the fall in gold futures to profit-booking by traders at existing levels but a firm trend overseas kept the losses limited. Spot gold and US gold futures were steady at $1,245.74 per ounce and $1,250.3 per ounce, respectively, as of 0657 GMT.