Besides, subdued spot demand and profit-booking by speculators also put pressure on gold futures. At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 390, or 1.19 percent, to Rs 32,598 per 10 grams in business turnover of 525 lots.     

Similarly, metal prices for delivery in the far-month December declined by Rs 370, or 1.12 percent, to Rs 32,685 per 10 grams in 86 lots.
    
Analysts said the fall in gold futures was mostly attributed to a weak trend overseas as prospects for an attack against Syria receded, and on bets the US Federal Reserve will start to pare stimulus as the economy improves.
    
Slackened demand at domestic spot markets and profit-booking by speculators at prevailing levels, too put pressure on the prices, they said.
    
Globally, gold prices fell 1.6 percent to trade at USD 1,373.38 an ounce in Singapore, its lowest level since August 23.

Silver futures down 0.27 percent


Silver prices drifted by 0.27 percent to trade at Rs 55,110 per kg in futures trade today as speculators engaged in reducing exposures.
    
At the Multi Commodity Exchange, silver for delivery in far-month December traded Rs 150, or 0.27 percent lower at Rs 55,110 per kg in business turnover of 1,860 lots.
    
In a similar fashion, the white metal for delivery in September fell by Rs 102, or 0.19 percent lower, at Rs 53,110 per kg in 1,869 lots.
    
Market analysts said the fall in silver prices at futures trade was mostly attributed to a weak trend overseas as prospects for an attack against Syria receded, and on bets the US Federal Reserve will start to pare stimulus as the economy improves, reducing demand for the precious metal.
    
Meanwhile, silver fell by 1.90 percent to USD 23.08 an ounce in Singapore.

(Agencies)

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