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Gold and silver prices fell in futures trade today, tracking a weak trend overseas amid profit-booking by speculators.
Gold prices fell by Rs 106 to Rs 27,132 per 10g while silver was down by Rs 308 to Rs 37,950/kg.
At the Multi Commodity Exchange, gold for delivery in June eased by Rs 106 or 0.39 per cent to Rs 27,132 per 10 gm in a business turnover of 236 lots. Likewise, the metal for delivery in far-month August shed Rs 104 or 0.38 per cent to Rs 27,339 per 10 gm in 8 lots.
Silver for delivery in far-month July contracts lost Rs 308 or 0.81 per cent to trade at Rs 37,950 per kg in a business turnover of 301 lots. Similarly, the white metal for delivery in May declined by Rs 274 or 0.73 per cent to Rs 37,440 per kg in a business volume of 366 lots.
Analysts said besides a weak trend in the overseas markets after the Federal Reserve said the economy was expected to pickup following a first—quarter slowdown, boosting speculation that interest rates will rise this year, put pressure on gold prices at futures trade here.
In Singapore, gold lost 0.18 per cent to USD 1,202.40 an ounce while silver traded 0.45 per cent lower at USD 16.47 an ounce.
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