NEW DELHI: Bullion was trading lacklustre in the domestic futures market in Wednesday’s session on subdued demand of the precious metals by the local jewellers at spot market and uninspiring global cues.
Gold eased in the global markets as investors shifted their focus towards riskier equities on optimism over US Fed’s dovish tone and a possible Sino-US trade deal.
Rupee’s fall also influenced trading in gold.
A depreciating rupee against the dollar made imports of gold costlier, which weighed on the demand for gold.
The rupee slipped by 24 paise against the US dollar in today’s intraday trade so far.
The MCX Gold was trading at Rs 31736 per 10 grams, lower by Rs 5, while MCX Silver was trading Rs 25 higher at Rs 39,362 a kilo around 11 am.