At the Multi Commodity Exchange, gold prices for delivery in April fell by Rs 76, or 0.25 percent, to Rs 30,555 per 10 grams in a business turnover of 441 lots.

Metal prices for delivery in June declined by a similar margin to trade at Rs 29,950 per ten grams in 12 lots.

Market analysts said the fall in gold futures was mostly due to profit-booking by speculators and a weak trend overseas amid signs that the rally was overdone and physical buying in China slowed.

Meanwhile, gold traded a shade lower at USD 1,349.81 an ounce in Singapore from USD 1,350.58 on Tuesday, when the metal reached USD 1,354.87, the highest level since October 30, as Ukraine said that Russia has threatened to seize its war ships in Crimea.

Silver futures down 0.32 pc on profit-booking

Silver futures fell by 0.32 percent to Rs 47,881 per kg in futures trade as speculators booked profits even as metal rose in global markets.

At the Multi Commodity Exchange, silver prices for delivery in May traded lower by Rs 154, or 0.32 percent, to Rs 47,881 per kg in a business turnover of 500 lots.

Similarly, the white metal for delivery in March declined by Rs 77, or 0.16 percent, to Rs 47,109 per kg in a business volume of 21 lots.

In the international market, silver prices traded 0.15 percent lower at USD 19.69 an ounce in Singapore.

Market analysts said profit-booking by participants led to a fall in silver prices at futures trade but metal's gain overseas limited the fall.

Globally, silver traded a shade higher at USD 21.43 an ounce in Singapore from USD 21.42 on Monday.

(Agencies)

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