Gold futures fall 0.34 per cent on global cues

New Delhi: Amid a weak global trend, gold prices drifted lower by 0.34 per cent to Rs 31,361 per 10 grams in futures trade on August 17 as participants trimmed their positions.

At the Multi Commodity Exchange, gold for delivery in October fell by Rs 106, or 0.34 per cent to Rs 31,361 per 10 grams in business turnover of 263 lots.

Similarly, the yellow metal for delivery in December contracts traded lower by Rs 92, or 0.29 per cent to Rs 31,662 per ten grams in 11 lots.

Analysts said the fall in gold futures was mostly in tune with a weak trend overseas.

Meanwhile, gold fell 0.15 per cent to USD 1,343.80 an ounce in Singapore.