Gold futures weaken to Rs 32,150 per 10 gm

Gold prices fell by Rs 51 to Rs 32,150 per 10 gram in futures trade on Wednesday as speculators reduced exposure despite a firm trend in the precious metal in overseas market.

At the Multi Commodity Exchange, gold for delivery in June traded lower by Rs 51, or 0.16 percent, at Rs 32,150 per 10 gram with a business turnover of 15,029 lots.

The precious metal traded at an intra-day low of Rs 32,088 at around 1035 hours Wednesday.

Gold for delivery in far-month August too fell by Rs 27, or 0.08 percent, to Rs 32,319 per 10 gram in 2,506 lots.

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

Globally, however, the yellow metal was trading a shade higher by 0.04 percent at USD 1,304.06 an ounce in Singapore.