Gold futures weaken to Rs 31,625 per 10 gm

New Delhi: Gold prices fell by Rs 88 to Rs 31,625 per 10 gram in futures trade Friday as speculators reduced exposure despite a firm trend in the precious metal at overseas market.

At the Multi Commodity Exchange, gold for delivery in February traded lower by Rs 88, or 0.28 per cent, to Rs 31,625 per 10 gram in a business turnover of 13,127 lots.

The precious metal was trending at an intra-day low of Rs 31,607 around 1130 hours Friday.

The gold for delivery in far-month April, too, fell sharply by Rs 101, or 0.32 per cent, to Rs 31,770 per 10 gram in 3,222 lots.

Marketmen said, the fall in gold prices at futures trade was mostly due to trimming of positions by participants in the domestic markets.

Globally, the gold was trading a shade higher by 0.73 per cent at USD 1,278.46 an ounce in Singapore.