Tracking a weak global trend, gold prices were down by Rs 128 to Rs 26,085 per 10 grams in futures market today as speculators indulged in trimming positions. Similarly, silver prices plunged by Rs 249 to Rs 35,540 per kg in futures trade.
MCX contracts
At the Multi Commodity Exchange, gold for delivery in August fell Rs 128, or 0.49 per cent, to Rs 26,085 per 10 grams in a business turnover of 348 lots. The yellow metal for delivery in far-month October lost Rs 105, or 0.40 per cent, to Rs 26,354 per 10 grams in 19 lots.
Silver for delivery in far-month December contracts traded lower by Rs 249, or 0.70 per cent, to Rs 35,540 per kg in business turnover of 16 lots. Similarly, the September contracts declined by Rs 221, or 0.63 per cent, to Rs 34,779 per kg in business volume of 424 lots.
Market analysts said a subdued trend in precious metals in the global markets put pressure on prices in futures trade here.
Meanwhile, gold eased to USD 1,157.79 an ounce in Singapore from USD 1,158.33 a day earlier while silver slid 0.2 per cent to USD 15.12/oz. The white metal had reached USD 14.68 an ounce in yesterday’s trade, the lowest level since December 1.