Gold futures down 0.26% on weak global cues

New Delhi: Gold prices went down by 0.26 per cent to Rs 31,134 per 10 grams in futures trade today as participants lightened their bets, tracking a weak movement overseas.

At Multi Commodity Exchange, gold for delivery in August was down Rs 81, or 0.26 per cent, to Rs 31,134 per 10 grams in a business turnover of 276 lots.

Similarly, the metal for delivery in far-month October was trading lower by Rs 55, or 0.17 per cent, to Rs 31,401 per 10 grams in 8 lots.

Analysts attributed the fall in prices to a weak trend overseas coupled with profit-booking by speculators.

Meanwhile, gold dropped 0.10 per cent to USD 1,297.70 an ounce in Singapore.