Gold prices fall despite firm trend in precious metal overseas

New Delhi, Dec 10: Gold prices fell Rs 38 to Rs 31,557 per 10 gram in futures trade Monday as speculators reduced exposure despite a firm trend in the precious metal overseas.

At the Multi Commodity Exchange, gold for delivery in February next year traded lower by Rs 38, or 0.12 per cent, to Rs 31,557 per 10 gram in a business turnover of 14,809 lots.

 The gold for delivery in far-month April, too, fell by Rs 13, or 0.04 per cent, to Rs 31,714 per 10 gram in 1,538 lots.

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

 Globally, the gold was trading a shade higher by 0.09 per cent at USD 1,247.92 an ounce in Singapore.