Zee Media Bureau
Gold prices failed to hold above Rs 25,0000-mark and fell 0.33 percent to Rs 24,816 per 10 grams in futures trade Tuesday as participants cut their bets amid a weak global trend.
Besides, profit-booking by speculators also weighed on gold prices.
At Multi Commodity Exchange (MCX), gold prices for delivery in August fell Rs 83, or 0.33 percent, to Rs 24,816 per 10 grams in business turnover of 369 lots.
Also, the metal for delivery in far-month October declined Rs 73, or 0.29 percent, to Rs 25,045 per 10 grams in 48 lots.
Analysts attributed fall in prices to weak trend overseas where the precious metal declined to near five-year lows as investors weighed the prospects for a US interest rate rise with Federal Reserve policy makers scheduled to meet today.
Meanwhile, gold traded little changed at USD 1,094.46 an ounce in Singapore.
Snapping its two-day winning run, gold prices plunged by Rs 190 to Rs 25,300 per ten grams at Delhi bullion market as demand from jewellers and retailers at prevailing levels eased even as the precious metal strengthened overseas.
Silver followed suit and declined by Rs 150 to Rs 34,050 per kg on reduced offtake by industrial units and coin makers.
With PTI Inputs
