Gold prices fell by Rs 77 to Rs 29,534 per 10 grams in futures trade today as participants went for profit-booking at prevailing levels amid a weak trend overseas. In futures trade at the Multi Commodity Exchange, gold for delivery in December shed Rs 77, or 0.26 per cent, at Rs 29,534 per 10 grams in a business turnover of 221 lots. Similarly, metal for delivery in far-month February 2018 eased Rs 57, or 0.19 per cent, to Rs 29,686 per 10 grams in a modest volume of just 2 lots. Analysts attributed the fall in gold futures to profit- booking by traders at the existing level and weakness in precious metals in the global market amid uncertainty over a US tax reform plan.
Globally, gold was trading 0.14 per cent lower at USD 1,276.10 an ounce in Singapore today. Silver prices fell by Rs 137 to Rs 40,488 per kg in futures trade today as speculators cut down their bets to book profits amid a weak trend overseas. Silver for delivery in far-month March next year was down by Rs 137, or 0.34 per cent, to Rs 40,488 per kg in futures trade at the Multi Commodity Exchange. It clocked a business volume of six lots.
Silver for delivery in December too was trading lower by Rs 132, or 0.33 per cent, to Rs 39,780 per kg in a business turnover of 290 lots. Market analysts said profit-booking at prevailing levels and fresh losses in the white metal overseas mainly pulled down silver prices in futures trade here. In the international market, silver traded 0.29 per cent lower at USD 16.98 an ounce in Singapore today.