Gold prices fell 0.27 per cent to Rs 31,950 per 10 gram in futures trade on Tuesday as speculators cut down their bets amid a weak global trend On the Multi Commodity Exchange, gold contract for August delivery was trading down by Rs 88, or 0.27 per cent, at Rs 31,950 per 10 gram in a business turnover of 2,730 lots.

The yellow metal for delivery in June was also quoting lower by Rs 51, or 0.16 per cent, at Rs 31,805 per 10 gram in a business turnover of 14,805 lots. Analysts attributed the fall in gold prices to trimming of positions by participants, taking weak cues from the global market.