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Gold prices fell Rs 198 to Rs 30,908 per 10 grams at the futures trade as speculators reduced their exposure due to weak global cues.
At the Multi Commodity Exchange, gold for delivery in December fell Rs 198 or 0.64 per cent to Rs 30,908 per 10 grams in a business volume of 1,711 lots. Gold for delivery in February 2019 traded lower by Rs 192, or 0.62 per cent, to Rs 30,914 per 10 grams in a business volume of 1,695 lots.
Spot gold was down 0.3 per cent at $1,234.71 per ounce, after hitting its highest since October 26 at $1,241.86 an ounce in the previous session. US gold futures were down 0.5 per cent at $1,240.2 per ounce.
Silver prices dropped sharply by Rs 240 to Rs 36,394 per kg at the futures trade as speculators reduced their exposure owing to a weak trend overseas.
Silver for delivery in December fell Rs 240 or 0.66 per cent to Rs 36,394 per kg in a business turnover of 23,189 lots at the Multi Commodity Exchange. On similar lines, the white metal for delivery in March 2019, shed Rs 315 or 0.84 per cent to Rs 37,166 per kg with a business turnover of 263 lots.
In the international market, spot silver fell 0.4 per cent to USD 14.46 per ounce.
Marketmen said trimming of positions by speculators to book profits at prevailing levels and a weak trend overseas mainly led to a fall in silver prices at the futures trade.
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