Gold is trading at Rs 31,305 per 10 as participants lightened their positions at prevailing levels amid a weak trend overseas.
The quantity of gold smuggled was higher earlier, but the gants were playing safe and bringing gold in lesser quantities. (Representational image)
New Delhi: Gold prices drifted lower by Rs 112 to Rs 31,305 per 10 gram in futures trade on Friday as participants lightened their positions at prevailing levels amid a weak trend overseas.
In futures trade, gold for delivery in December was trading Rs 112 or 0.36 per cent down at Rs 31,305 per 10 gram on the Multi Commodity Exchange with a business turnover of 409 lots.
The metal for delivery in February next year, too, fell by Rs 112 or 0.35 per cent to Rs 31,533 per 10 gram in 22 lots.
Analysts said apart from profit-booking by speculators at existing levels, metal's fresh weakness in the overseas markets weighed on gold futures.
In international market, gold lost 0.16 per cent to USD 1,199.40 an ounce in Singapore.
( Source : PTI )
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