Gold prices fell 0.15 per cent to Rs 29,275 per 10 grams in futures trade today as participants cut down their bets amid a weak global trend. At Multi Commodity Exchange, gold prices for delivery in December fell by Rs 43, or 0.15 per cent, to Rs 29,275 per 10 grams in a business turnover of 77 lots. Analysts attributed the fall in prices to lower positions from participants, tracking a weak trend in the global market, as investors remained cautious ahead of the naming of the next US Federal Reserve chair and a two-day Federal Open Market Committee (FOMC) meeting this week. Meanwhile, gold fell 0.16 per cent at USD 1,271.20 an ounce in Singapore today.
Silver prices were down by Rs 38 to Rs 39,111 per kg in futures trade today as speculators cut holdings, tracking a weak trend overseas. Silver for delivery in December was trading lower by Rs 38, or 0.10 per cent, at Rs 39,111 per kg in a business turnover of 124 lots in futures trading at the Multi Commodity Exchange (MCX). In the international market, silver fell 0.56 per cent at USD 16.74 an ounce in Singapore today.
Market analysts said, trimming of positions by participants to book profits amid muted global cues as investors remained cautious ahead of the naming of the next US Federal Reserve chair and a two-day Federal Open Market Committee (FOMC) meeting this week mainly led to a fall in silver prices at futures trade here.