Gold and silver prices declined in futures trade on Friday, tracking weaker spot demand, profit booking by traders and subdued global cues.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery fell Rs 630, or 0.43 per cent, to Rs 1,44,670 per 10 grams, with a business turnover of 975 lots. Analysts attributed the decline in the yellow metal to weaker spot demand.
Silver also witnessed selling pressure, with September contracts dropping Rs 1,934, or 0.85 per cent, to Rs 2,24,443 per kilogram on the MCX. The contract recorded a business turnover of 2,345 lots as participants reduced their positions.
In the international market, gold futures were trading 0.11 per cent lower at USD 4,118.90 per ounce in New York, while silver slipped 0.28 per cent to USD 60.12 per ounce, reflecting weak global sentiment.