New Delhi: Gold futures moved in negative territory after paring their early gains in post evening trade Wednesday as some of the market participants trimmed their positions, even a firming trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in December inched down by Rs 1 to Rs 30,132 per ten grams after moving in range of Rs 30,087- Rs 30,226.
Similarly, silver for delivery in December slipped by Rs 17 to Rs 44,443 per Kg.
Gold price in overseas markets, which normally set price trend on the domestic front, gained by over 0.5 percent today after the previous session's drop but was still vulnerable to further losses because strong US data could fuel expectation that the Federal Reserve will soon scale back monetary stimulus.
Spot gold last traded up 0.59 percent or USD 7.30 at USD 1,250.30 an ounce. It lost nearly 1 percent in the previous session after strong US housing data.
US gold futures were up 0.6 percent at USD 1,248.60 an ounce.
Meanwhile, gold fell by Rs 200 to Rs 31,425 per ten grams at Delhi bullion market on sluggish demand at prevailing higher levels amid a weak global trend.
Silver also plunged by Rs 510 to Rs 45,280 per kg on lack of buying support from jewellers and industrial units.
