Gold and silver prices came under pressure in the domestic futures market as some investors opted for profit booking following the recent rise in bullion prices. On the MCX, the gold contract maturing on October 5 declined more than Rs 1,000 from the previous close of Rs 1,55,775 per 10 grams and touched an early low of Rs 1,54,750.
Silver futures followed a similar trend, with the December 4 contract falling over Rs 1,000 to reach a low of Rs 2,40,420 per kilogram. The contract had settled at Rs 2,42,349 per kilogram in the previous session on the MCX.
The latest trading levels showed MCX Silver at Rs 2,40,709, down Rs 1,640 or 0.68 per cent. MCX Gold was trading at Rs 1,55,004 per 10 grams, marking a fall of Rs 771 or 0.49 per cent.
The decline was also visible in the domestic retail gold market, where rates for different purity levels moved lower. As per bullion.co.in, 24-karat gold was priced at Rs 1,55,640 per 10 grams in India on September 4. The rate for 22-karat gold stood at Rs 1,42,670 per 10 grams.
