Zee Media Bureau
Gold edged lower by Rs 33 in futures trade Wednesday amid a weak trend overseas and profit-booking by speculators.
At the Multi Commodity Exchange (MCX), gold for delivery in December eased by Rs 33, or 0.12 percent, to Rs 26,563 per 10 grams.
Gold in overseas markets, which normally set price trend on the domestic front, slipped today as a stronger dollar prevented the metal from holding on to sharp overnight gains that took it to a near three-week high.
Spot gold was down 0.4 percent to USD 1,192.75 an ounce. The metal jumped to a near three-week high of USD 1,204.70 yesterday and closed up about 1 percent.
Meanwhile, gold prices remained steady at Rs 26,800 per ten gram at Delhi bullion market on scattered buying by jewellers and retailers even as the metal weakened in the global markets.
However, silver found fresh buying support from industrial users and recovered by Rs 485 to Rs 36,300 per kg.
