Amid a weakening global trend and profit-booking by speculators, gold prices fell by 0.28 per cent to Rs 29,485 per 10 grams in futures trade today. At the Multi Commodity Exchange, gold for delivery in August declined by Rs 82, or 0.28 per cent, to Rs 29,485 per 10 grams, in a business turnover of 600 lots.
Similarly, the yellow metal for delivery in October moved down by Rs 54, or 0.18 per cent, to Rs 29,639 per 10 grams in two lots. Market analysts said besides subdued global trend, profit-booking by participants at prevailing levels, mainly led to the fall in gold prices at futures trade.
Globally, gold fell 0.22 per cent to USD 1,290.70 an ounce in Singapore.
Tracking a weak trend overseas, silver prices drifted lower by 0.34 per cent to Rs 40,640 per kg in futures trading today today as speculators cut down their bets at prevailing levels. At the Multi Commodity Exchange, silver for delivery in July fell by Rs 137, or 0.34 per cent, to Rs 40,640 per kg, in a business turnover of 702 lots.
Similarly, the white metal for delivery in far-month September was trading lower by Rs 118, or 0.29 per cent, to Rs 41,120 per kg in four lots. Analysts attributed the fall in silver in futures trade to offloading of positions by participants in line with a weak trend overseas.
Globally, silver fell 0.31 per cent to USD 17.63 an ounce in Singapore.