NEW DELHI:
Gold prices fell in the futures trade on Wednesday as demand by jewellers at the spot market declined amid weak global sentiment.
The safe-haven metal slipped in global markets on the rise in the US dollar against its peers. A strong dollar means gold price will depreciate as the commodity becomes dearer in other currencies, causing a fall in its demand.
As per
Reuters, holdings in the world's largest gold-backed
exchange-traded fund,
SPDR Gold Trust, fell for the seventh consecutive session, dropping about 0.4 per cent to 757.85 tonnes on Tuesday.
Silver prices also cracked on reduced order by industrial units and coin makers.
The MCX Gold was trading at Rs 32,095 per 10 grams, down by Rs 106, while MCX Silver was trading down by Rs 194 at Rs 37,644 a kilo around 10:45 am.