Besides, a weak trend at the domestic spot markets as demand declined at prevailing levels also put pressure on prices. (Agencies)
At the Multi Commodity Exchange, gold for delivery in December eased by Rs 152, or 0.50 percent, to Rs 30,006 per 10 gm in a business turnover of 459 lots while, silver for delivery in
December traded lower by Rs 858, or 1.72 percent, to Rs 49,170 per kg in business turnover of 1,270 lots.
Likewise, the metal for delivery in far-month February shed Rs 170, or 0.41 percent, to Rs 29,700 per 10 gm in 13 lots and declined by Rs 855, or 1.66 percent, to Rs 50,650 per kg in a business volume of 25 lots.
In the national capital, gold prices dropped Rs 220 to Rs 31,710 per ten gram on Wednesday’s trade.
Market analysts said besides subdued domestic demand, a weak trend in the overseas markets on speculation that the US
Federal Reserve will begin scaling back monetary stimulus as the economy improves, mainly weighed on gold prices at futures trade here while silver led to fall in prices at futures trade.
Globally, gold fell 0.7 per cent to USD 1,335.50 an ounce in Singapore on Thursday likewise in the international market, Silver tumbled 1.9 percent to USD 22.32 an ounce in Singapore.
Besides, a weak trend at the domestic spot markets as demand declined at prevailing levels also put pressure on prices.