Gold futures on MCX opened lower at Rs 29,701 per 10 grams on Monday against the previous close of Rs 29,767. It made a high of Rs 29,751 and low of Rs 29,653. It was down by 0.35 per cent at Rs 29,662 at 1.35 p.m.

In Comex, the yellow metal for June delivery was up by $2 at $1,578 a troy ounce at 1.35 pm.

Silver prices too fell by 0.26 per cent to Rs 51,434 per kg in futures trade today as speculators trimmed their positions.

At the Multi Commodity Exchange, gold for delivery in far-month August shed Rs 52, or 0.17 per cent, to Rs 30,168 per 10 gm in 7 lots.

Silver for delivery in May traded lower by Rs 136, or 0.26 per cent, to Rs 51,434 per kg in business turnover of 495 lots. Similarly, the white metal for delivery in July declined by Rs 132, or 0.25 per cent, to Rs 52,465 per kg in business volume of 28 lots.

Globally, silver traded little changed at $27.29 an ounce in Singapore today.

Market analysts said a weak trend in precious metals in the global markets as investors cut asset holdings and dollar strengthened, curbing safe-haven demand, led to fall in gold and silver prices at futures trade here.

Besides, a weakening trend in the domestic spot markets also put pressure on the prices, they said.

(This article was published on April 8, 2013)
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