Mumbai Tracking weaker trend in the Asian spot bullion market after yesterday's holiday in the United States, gold and silver futures on the Multi Commodity Exchange (MCX) were trading slightly down during initial hours of trade Tuesday. While October gold traded down Rs 43/10gm; December silver traded down Rs 63/kg.

Spot gold last traded at USD815/oz, down USD7.25 against the London PM fix after speculators that bought ahead of hurricane Gustav closed out those positions, says a senior trader at Japan house in HK Tuesday. He adds, trading has been thin given Comex closed last night, which exacerbated gold's retreat.

MCX October gold contract opened down Rs 17 at Rs 11,782/10gm. The contract fluctuated between Rs 11,725 and Rs 11,782/10gm. At 11.05 am IST, the contract traded down Rs 43 at Rs 11,756/10gm.

MCX December silver opened down Rs 18 at Rs 20,485/kg. The contract tossed between Rs 20,401 and Rs 20,499/kg. At 11.05 am IST, the silver contract traded down Rs 63 at Rs 20,440/kg.

(With inputs from Dow Jones Newswire)