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Gold prices softened 0.11 per cent to Rs 30,095 per 10 grams at the futures trade as speculators trimmed their positions owing to a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in October declined Rs 34 or 0.11 per cent to Rs 30,095 per ten grams in a business turnover of 162 lots.
Analysts said off-loading of positions by participants in tandem with a weak trend overseas, where gold edged lower with prices breaking back below the psychological $1,200 level, influenced gold futures.
Globally, gold fell 0.17 per cent to $1,198.80 an ounce in Singapore.
Silver prices drifted lower by 0.38 per cent to Rs 36,561 per kg at the futures trade as participants reduced their exposure.
At the Multi Commodity Exchange, silver for delivery in September fell Rs 140 or 0.38 per cent to Rs 36,561 per kg in a business turnover of 77 lots. Likewise, the white metal for delivery in December declined by Rs 117 or 0.31 per cent to Rs 37,365 per kg in 253 lots.
Analysts attributed the slide in silver futures to a weak trend in precious metals overseas. Globally, silver fell 0.52 per cent to $14.43 an ounce in Singapore.
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