At the Multi Commodity Exchange, gold prices for delivery in October fell by Rs 453, or 1.95 percent, to Rs 33,786 per 10 grams in business turnover of 2,697 lots. Similarly, metal prices for delivery in December declined by Rs 657, or 1.91 percent, to Rs 33,820 per 10 grams in 173 lots. Market analysts said the fall in gold futures was mostly attributed to a weak trend overseas on concern that the US Federal Reserve is getting closer to tapering stimulus, reducing appeal of precious metal. Further, profit-booking by speculators after recent gains also weighed on the precious metal prices, they said. Meanwhile, gold prices fell 0.10 percent to USD 1,410.80 an ounce in Singapore. Silver futures plunge 3.33 percent Taking weak cues from the global market and profit-booking by speculators, silver futures prices today fell sharply by Rs 1,973, or 3.33 percent, to Rs 57,260 per kg. Analysts said a weak trend in the overseas markets on mounting concern over the US Fed scaling back stimulus and profit-booking by speculators after recent gains, weighed on silver futures prices. At the Multi Commodity Exchange, silver prices for delivery in December fell by Rs 1,973, or 3.33 percent, to Rs 57,260 per kg in business turnover of 3,862 lots. Similarly, the white metal prices for delivery in September lost Rs 1,831, or 3.20 percent, at Rs 55,477 per kg in 31 lots. Meanwhile, silver shed 1.85 percent to USD 23.83 an ounce in Singapore on Wednesday.

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