Gold futures down at Rs 31,340 per 10 gm

Mumbai-India (Oct 4)  Gold prices fell 0.07 per cent to Rs 31,340 per ten gram at the futures trade due to profit-booking by investors and weak global cues.

At the Multi Commodity Exchange, gold for delivery in far-month December declined by Rs 23 or 0.07 per cent to Rs 31,340 per ten gram in a business turnover of 361 lots.

Analysts said off-loading of positions by participants at prevailing levels coupled with a weak trend overseas weighed on gold prices at the futures trade. Meanwhile, gold fell 0.09 per cent to $1,197 an ounce in Singapore on Thursday.

Silver prices dropped by Rs 117 to Rs 38,975 per kg at the futures trade. Silver for delivery in far-month December was trading lower by Rs 117 or 0.30 per cent at Rs 38,975 per kg in a business turnover of 560 lots at the Multi Commodity Exchange (MCX).

Silver traded 0.06 per cent lower at $14.56 an ounce in Singapore. Market analysts said the fall in silver prices at futures trade was mostly attributed to profit-booking by speculators at prevailing levels and weak global cues.

BusinessLine