NEW DELHI:
Gold prices fell in futures trade on Thursday on lower demand at the spot market from local jewellers and uninspiring global trend.
Subdued equity market offered some support to the safe-haven asset, but the dollar's rise capped the gains.
Analysts say stronger
rupee has also hit gold. The rupee climbed 33 paise to 69.94 against the dollar today. A strong rupee against the dollar brings
gold prices down and spurs consumption in the country.
The MCX Gold was trading at Rs 31,898 per 10 grams, down by Rs 50 around 10:50 am.
Silver, on the other hand, was trading rangebound on muted demand by industrial units and coin makers.
The MCX Silver was trading Rs 10 higher at Rs 38,175 a kilo around the same time.