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Gold prices shed 0.11 per cent to 30,910 per 10 gram at the futures trade as speculators reduced their exposure due to a weak global trend.
At the Multi Commodity Exchange, gold for delivery in October fell Rs 33 or 0.11 per cent to Rs 30,910 per 10 gram in a business turnover of 10 lots. Similarly, the yellow metal for delivery in August declined by Rs 21 or 0.07 per cent to Rs 30,629 per 10 gram in 270 lots.
Analysts said cutting down of positions by participants in line with a weak trend overseas. Gold prices nudged lower amid steady dollar position with investors bracing for any impact on global markets from a deepening trade conflict between the United States and China.
Globally, gold fell 0.18 per cent to $1,255 an ounce in Singapore.
Silver prices drifted lower by 0.29 per cent to Rs 40,622 per kg at the futures trade today as speculators cut down their bets owing to a weak global trend.
At the Multi Commodity Exchange, silver for delivery in far-month December declined by Rs 117 or 0.29 per cent to Rs 40,622 per kg in a business turnover of 5 lots. Similarly, the white metal for delivery in September contracts was trading lower by Rs 99, or 0.25 per cent, at Rs 39,782 per kg in 441 lots.
Analysts said, the fall in silver prices was mostly due to off-loading of positions by participants in tandem with a weak trend overseas ahead of tariff deadline, and US jobs data. Meanwhile, silver fell 0.22 per cent to $15.99 an ounce in Singapore.
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