Gold futures decline by 0.20 per cent on global cues

New Delhi: Gold prices drifted lower by 0.20 per cent to Rs 31,446 per 10 grams in futures trade on July 20 as participants reduced their exposures, triggered by a weak trend overseas.

At Multi Commodity Exchange, gold for delivery in October fell by Rs 62 or 0.20 per cent to Rs 31,446 per ten grams in business turnover of 107 lots.

The metal for delivery in August contracts traded lower by Rs 46 or 0.15 per cent to Rs 31,048 per ten gram in 893 lots.

Analysts said offloading of positions by traders on the back of a weak trend in the overseas markets mainly influenced gold prices at futures trade.

Globally, gold traded lower by 0.03 per cent to USD 1,331.30 an ounce in Singapore.