Gold prices fell 0.22 per cent to Rs 29,520 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 October declined Rs 65, or 0.22 per cent, to Rs 29,520 per 10 grams in a business turnover of 444 lots. Similarly, the metal for delivery in far-month November was trading lower by Rs 62, or 0.21 per cent, to Rs 29,368 per 10 grams in 8 lots. Analysts attributed the fall in prices to trimming of positions by participants, tracking a weak trend in the global market, as the US dollar firmed up and the euro edged lower on political developments in Germany.
Meanwhile, gold fell 0.31 per cent, to USD 1,293.10 an ounce in Singapore today. Tracking a weak global trend, silver prices moved down by 0.26 per cent to Rs 39,623 per kg in futures trading today as speculators trimmed their bets. At Multi Commodity Exchange, silver for delivery in far- month December fell Rs 104, or 0.26 per cent, to Rs 39,623 per kg in a business turnover of 426 lots.
Traders said the fall in silver prices was largely in line with a weak trend in precious metals at the global market as the dollar strengthened and as the euro edged lower on political uncertainty in Germany. Globally, silver fell 0.41 per cent to USD 16.91 an ounce in Singapore today.