Gold traded lacklustre in futures trade on Wednesday on muted demand by jewellers at the spot market and weak global sentiment.
Gold prices fell on Wednesday to hover around four-month low touched in the previous session, as share markets rose and the dollar gained after strong US housing data dampened concerns about an economic slowdown in the country, Reuters reported.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, on Tuesday fell to 749.63 tonnes, the lowest since October 23.
However, a weaker rupee capped the fall of the safe-haven metal. Weak rupee makes the import of gold costlier and pushes the price of the precious metal higher.
The MCX Gold was trading at Rs 31,540 per 10 grams, down by Rs 22, while MCX Silver was trading Rs 1 lower at Rs 36,975 a kilo around 11:10 am.
Gold prices fell on Wednesday to hover around four-month low touched in the previous session, as share markets rose and the dollar gained after strong US housing data dampened concerns about an economic slowdown in the country, Reuters reported.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, on Tuesday fell to 749.63 tonnes, the lowest since October 23.
However, a weaker rupee capped the fall of the safe-haven metal. Weak rupee makes the import of gold costlier and pushes the price of the precious metal higher.
The MCX Gold was trading at Rs 31,540 per 10 grams, down by Rs 22, while MCX Silver was trading Rs 1 lower at Rs 36,975 a kilo around 11:10 am.
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