Gold prices softened by 0.14 per cent to Rs 30,505 per 10 gram at the futures trade due to profit-booking by traders even as the precious metal strengthened overseas.

At the Multi Commodity Exchange, gold for delivery in October declined by Rs 42 or 0.14 per cent to Rs 30,505 per ten gram in a business turnover of 312 lots. The metal for delivery in far-month December was trading lower by Rs 40 or 0.13 per cent at Rs 30,732 per ten gram in a modest business turnover of one lot.

Analysts said trimming of positions by participants to book profits weighed on gold prices at the futures trade but a firm trend overseas, limited the fall. Meanwhile, gold edged up 0.14 per cent to $1,201.40 an ounce in Singapore.

Silver prices tumbled Rs 159 to Rs 37,778 per kg at the futures trade due to cutting down of holdings by speculators owing to a weak trend overseas.

Silver for delivery in far-month March was trading sharply lower by Rs 159 or 0.42 per cent at Rs 37,778 per kg in a business turnover of 8 lots at the Multi Commodity Exchange. The white metal for delivery in December slumped Rs 147, or 0.40 per cent, at Rs 37,004 per kg with a business turnover of 873 lots.

In the international market, silver traded 0.14 per cent lower at $14.11 an ounce in Singapore. Market analysts said besides a weak trend in precious metals in global market, profit-booking by participants led to a fall in silver prices at the futures trade.

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