Gold prices were down by Rs 86 at Rs 30,960 per 10 grams at the futures trade as speculators reduced their exposure despite a firm trend in precious metal overseas.

At the Multi Commodity Exchange, gold for delivery in far-month February traded lower by Rs 86 or 0.28 per cent at Rs 30,960 per 10 grams in a business turnover of 11 lots. The gold for delivery in December, too, fell Rs 84, or 0.27 per cent to Rs 30,685 per 10 grams in 172 lots.

Marketmen said the fall in gold prices at the futures trade was mostly due to trimming of positions by participants. Globally, gold was trading a shade higher at $1,203.20 an ounce in Singapore.

Silver prices fell Rs 130 to Rs 36,255 per kg at the futures trade as speculators reduced their exposure despite a firm trend overseas.

At the Multi Commodity Exchange, silver for December was trading lower by Rs 130 or 0.36 per cent at Rs 36,255 per kg in a business volume of 328 lots. The white metal for November, too, fell Rs 111, or 0.30 per cent, at Rs 36,305 per kg in 273 lots.

In the international market, silver was up by 0.07 per cent at $14.09 an ounce in Singapore. Marketmen said, the fall in prices was due to cutting down of positions by speculators but a firm trend overseas limited the downtrend.

Related Topics