Gold prices fell 0.23 per cent to Rs 30,705 per 10 grams at the futures trade as participants trimmed their holdings owing to a weak global trend.
At the Multi Commodity Exchange, gold prices for delivery in October fell Rs 71 or 0.23 per cent to Rs 30,705 per 10 grams in a business turnover of 318 lots. Gold for delivery in December too fell Rs 65 or 0.21 per cent to Rs 30,935 per kg in 16 lots.
Analysts attributed the fall in prices to cutting down of positions by participants, tracking a weak global trend, as the dollar rose after the US imposed a new round of tariffs on Chinese imports. Meanwhile, gold fell 0.25 per cent to $1,198.10 an ounce in Singapore.
Silver prices were down by Rs 119 to Rs 37,314 per kg at the futures trade as speculators trimmed their holdings owing to weak global cues.
At the Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 119 or 0.32 per cent at Rs 37,314 per kg in a business turnover of 764 lots. Similarly, the contract for delivery in March next year fell Rs 99 or 0.26 per cent to Rs 38,114 per kg in business turnover of just one lot.
In the international market, silver fell 0.32 per cent to $14.12 an ounce in Singapore. Market analysts said trimming of positions by participants due to weak global cues, as the dollar rose after the US imposed a new round of tariffs on Chinese imports, aggravating global trade worries, mainly led to a fall in silver prices at the futures trade.
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