Gold prices drifted lower by Rs 37 to Rs 30,450 per 10 gram at the futures trade today as participants lightened their positions at prevailing levels amid a weak trend overseas.
Gold for delivery in December was trading down by Rs 37 or 0.12 per cent at Rs 30,450 per 10 gram at the Multi Commodity Exchange with a business turnover of 297 lots.
The metal for delivery in February next year too fell Rs 18 or 0.06 per cent to Rs 30,445 per 10 gram in 6 lots.
Analysts said apart from profit-booking by speculators at existing levels, the yellow metal’s fresh weakness in the overseas markets weighed on gold futures.
In the international market, gold lost 0.30 per cent to $1,298.30 an ounce in Singapore.