NEW DELHI: Gold prices fell at the domestic futures market Thursday on slackened demand from local jewellers and retailers in the spot market.Around 11:20 am, MCX Gold was trading at Rs 30,321 per 10 grams, down by Rs 113 or 0.37 per cent. MCX Silver was trading at Rs 35,931 a kilo, down by Rs 193, or 0.53 per cent.
Fall in demand from local jewellers and retailers at the domestic spot market and a weak trend overseas weighed on the precious metal prices.
“MCX Gold is expected to quote in the range of Rs 30,300 to Rs 30,650 today,” Motilal Oswal Securities said.
According to Reuters, gold prices advanced slightly in global markets, but the gains were limited by increased interest in riskier assets following dovish comments from the US Federal Reserve Chair Jerome Powell.