Gold futures on MCX traded lower by 0.02 per cent at Rs 26,148 per 10 grams at 1.37 p.m. on Friday. The August contract opened higher at Rs 26,175 against the previous close of Rs 26,143. It made a high of Rs 26,175 and low of Rs 26,020.
In Comex, the yellow metal for August delivery was down by $10 at $1,241 a troy ounce.
PTI reports: Similarly, silver futures too fell by Rs 404, or one per cent, to Rs 40,080 per kg, as speculators trimmed positions.
Silver prices for delivery in July plunged by Rs 404, or one per cent, to Rs 40,080 per kg in business turnover of 11 lots. Similarly, the white metal prices for delivery in September lost Rs 386, or 0.94 per cent, at Rs 40,585 per kg in 1,668 lots.
Market analysts said the fall in futures was mostly attributed to a weak trend overseas ahead of a US jobs data that may add to signs of improving economy, fuelling speculation that the Federal Reserve will scale back monetary stimulus.
Besides, strengthening dollar was also putting pressure on gold prices, they said.
Meanwhile, silver sank one per cent to $19.36 an ounce in Singapore.