Gold prices declined in futures trade on Wednesday as demand for the precious yellow-metal declined in the spot market as well as dollar gained in the global markets.
Gold Prices Fall On Decline In Spot Demand And Global Cues
Any gain in strength in the dollar makes the appeal for gold lackluster as gold becomes expensive in other currencies, thereby leading to a fall in demand for the yellow metal.
Gold of 0.995 purity in Ahmedabad for 10 gms is priced at Rs. 31,952 while its futures market price with expiry on April 5, 2019, the price stands at Rs. 31813 for 10 gms.
MCX Silver was also trading lower at around 12:10 pm and was selling for Rs 38,090 a kilo.
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