Precious Metals: Gold, silver futures fall on profit-booking, weak domestic trends

New Delhi: Gold prices dipped 0.35 per cent to Rs 37,806 per 10 gram in futures trade on Monday as speculators reduced exposure on low demand.

Off-loading of positions by participants to book profits influenced gold prices at the futures trade, analysts said.

On the Multi Commodity Exchange, gold contracts for August delivery fell by Rs 132, or 0.35 per cent, to Rs 37,806 per 10 gram in a business turnover of 3,360 lots.

Globally, the yellow metal traded 0.30 per cent lower at USD 1,519 an ounce in New York.

Silver

Silver prices on Monday eased Rs 311 to Rs 43,513 per kg in the futures trade as speculators cut positions amid weak trend in the spot market.

On the Multi Commodity Exchange, silver contracts for the most-traded September delivery fell by Rs 311, or 0.71 per cent, to Rs 43,513 per kg in a business turnover of 4,067 lots.

The precious metal for delivery in December fell by Rs 314, or 0.7 per cent, to Rs 44,844 per kg in 224 lots.

Globally, however, silver was trading 0.62 per cent up at USD 17.02 an ounce in New York.