Gold futures prices on Thursday fell by 0.91 per cent to Rs 32,435 per 10 gram as speculators reduced positions, taking cues from the global market. Besides, further recovery in the rupee also weighed on gold prices at futures trade.
At the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 298, or 0.91 per cent, to Rs 32,435 per 10 grams in business turnover of 21 lots. Similarly, metal prices for delivery in October declined by Rs 284, or 0.87 per cent, to Rs 32,320 per 10 gram in 517 lots.
Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas as the prospects for reduced stimulus in the US countered the threat of a military attack against Syria.
Further, recovery in the rupee which rose by 138 paise to 65.69 against the dollar, making dollar-quoted yellow metal cheaper, too attributed fall in gold prices, they said. Globally, gold prices fell 1.46 per cent to trade at USD 1,391.60 an ounce in New York in Wednesday's trade.