NEW DELHI: Gold prices suffered a strong fall in the domestic futures trade on Wednesday due to profit booking, as the commodity witnessed a sharp fall in global markets.
The safe-haven metal slipped more than 1 per cent on Wednesday in international markets, moving away from a six-year peak hit on Tuesday, as the US Federal Reserve officials played down expectations of aggressive rate cuts, while investors locked in profits following a strong rally, Reuters reported.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.3 per cent to 799.61 tonnes on Tuesday from 801.96 tonnes on Monday.
Silver also declined on reduced order by industrial units and coin makers.
Around 10:40 am, the MCX Gold traded at Rs 34,347 per 10 grams, down Rs 209, while MCX Silver traded Rs 37,733 a kilo, down Rs 269.
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