ETMarkets.comNEW DELHI: Gold prices fell as strong buying in equities on hopes of a rate cut by the RBI and positive global sentiment dented the appeal of safe-haven metal in futures trade on Monday.
Besides, muted demand by jewellers at the spot market and rupee's rise against the dollar also weighed on the yellow metal.
A strong rupee against the dollar brings gold prices down and spurs consumption in the country.
Silver prices also declined in futures trade on reduced demand by industrial units and coin makers.
The MCX Gold was trading at Rs 31,675 per 10 grams, down by Rs 59, while MCX Silver was trading Rs 36 lower at Rs 37,725 a kilo around 11:05 am.
Besides, muted demand by jewellers at the spot market and rupee's rise against the dollar also weighed on the yellow metal.
A strong rupee against the dollar brings gold prices down and spurs consumption in the country.
Silver prices also declined in futures trade on reduced demand by industrial units and coin makers.
The MCX Gold was trading at Rs 31,675 per 10 grams, down by Rs 59, while MCX Silver was trading Rs 36 lower at Rs 37,725 a kilo around 11:05 am.
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(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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