Gold prices drifts lower by 0.15 percent on Friday

Gold prices drifted lower by 0.15 percent to Rs 30,573 per ten gram in futures trade Friday as participants trimmed their positions, tracking a weak trend overseas.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 46, or 0.15 percent to Rs 30,573 per ten grams in business turnover of 299 lots.

Similarly, the yellow metal for delivery in December shed Rs 39, or 0.13 percent to Rs 30,285 per ten grams in 394 lots.

Analysts said off-loading of positions in line with a weakening trend overseas as the dollar firmed after upbeat US economic data supported the Federal Reserve's resolve for steady interest rate hikes over the next year, influenced gold prices at futures trade.

Globally, gold fell 0.98 percent to USD 1,182.40 an ounce in New York in Thursday's trade.