Gold futures down at Rs 30,395 per 10 gm

New Delhi-India (July 2)  Gold prices softened by 0.12 per cent to Rs 30,395 per 10 grams at the futures trade as speculators trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in August fell Rs 37 or 0.12 per cent to Rs 30,395 per ten grams in a business turnover of 215 lots. Likewise, the yellow metal for delivery in October was trading lower by Rs 38 or 0.12 per cent at Rs 30,660 per ten gram in one lot.

Analysts said offloading of positions by participants owing to a weak trend overseas, mainly influenced gold prices at the futures trade. Globally, gold fell 0.12 per cent to $1,250.60 an ounce in Singapore.

Silver prices moved down by 0.48 per cent to Rs 39,728 per kg at the futures trade owing to cutting down of positions by speculators on weak global cues.

At the Multi Commodity Exchange, silver for delivery in September fell Rs 193 or 0.48 per cent to Rs 39,728 per kg in a business turnover of 527 lots. Likewise, the white metal for delivery in July contracts declined by Rs 153 or 0.39 per cent to Rs 39,075 per kg in 80 lots.

Analysts said the slide in silver prices was mostly due to off-loading of positions by participants in line with a weak trend in global markets. Meanwhile, silver fell 0.50 per cent to $16.01 an ounce in Singapore.

BusinessLine