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Gold prices fell 0.19 per cent to Rs 31,806 per ten gram at the futures trade as participants trimmed their positions in line with a weak global trend.
At the Multi Commodity Exchange, gold for delivery in December declined by Rs 62 or 0.19 per cent to Rs 31,806 per ten gram in a business turnover of 13,379 lots. November contracts also fell Rs 60 or 0.19 per cent to Rs 31,641 per ten gram with a business volume of 23,444 lots.
Analysts said offloading of positions by participants, triggered by a weak trend overseas, weighed on gold prices at the futures trade. Meanwhile, gold fell 0.23 per cent to $1,222.70 an ounce in Singapore.
Silver prices were down by Rs 72 to Rs 38,792 per kg at the futures trade as speculators reduced their exposure in sync with a weak trend overseas.
At the Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 72 or 0.19 per cent at Rs 38,792 per kg in a business turnover of 23,444 lots. In the international market, silver fell 0.31 per cent to $14.69 an ounce in Singapore on Wednesday.
Market analysts said trimming of positions by participants to book profits amid muted global cues mainly led to a fall in silver prices at the futures trade.
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