Gold prices fell in futures trade on Thursday as a rise in the domestic equity market lured investors away from the safe-haven metal.
Lower demand by jewellers at the spot market and uninspiring global sentiment further weighed on.
A stronger dollar kept gold under pressure in global markets.
A strong dollar means gold price will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand.
Silver prices also declined on a fall in demand by industrial units and coin makers.
The MCX Gold was trading at Rs 31,727 per 10 grams, down by Rs 91, while MCX Silver was trading Rs 181 lower at Rs 37,301 a kilo around 11:45 am.
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| Commodity Market Update |
Lower demand by jewellers at the spot market and uninspiring global sentiment further weighed on.
A stronger dollar kept gold under pressure in global markets.
A strong dollar means gold price will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand.
Silver prices also declined on a fall in demand by industrial units and coin makers.
The MCX Gold was trading at Rs 31,727 per 10 grams, down by Rs 91, while MCX Silver was trading Rs 181 lower at Rs 37,301 a kilo around 11:45 am.
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