Comments
Continuing its losing streak for the third straight day, gold prices fell by 0.21 per cent to Rs 29,199 per 10 grams at the futures trade as speculators engaged in reducing their bets in line with a subdued trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month October declined by Rs 60 or 0.21 per cent to Rs 29,119 per 10 grams in a business turnover of three lots.
Similarly, the yellow metal for delivery in August shed Rs 56 or 0.19 per cent to Rs 29,075 per 10 grams in 401 lots.
Market analysts said trimming of positions in tandem with a weak trend overseas, mainly kept gold prices down at the futures trade.
Globally, gold fell 0.22 per cent to $1,274.80 an ounce in Singapore.
Silver prices
Silver prices dipped by 0.42 per cent to Rs 40,422 per kg at the futures trade as speculators cut down their bets, driven by a weak global trend.
At the Multi Commodity Exchange, silver for delivery in September drifted lower by Rs 171 or 0.42 per cent to Rs 40,422 per kg in a business turnover of 9 lots.
Likewise, the white metal for delivery in July declined by Rs 118 or 0.29 per cent to Rs 39,932 per kg in 859 lots.
Analysts said offloading of positions by participants on the back of a weak trend overseas, mainly pulled down silver prices at the futures trade.
Globally, silver fell 37 per cent to $17.34 an ounce in Singapore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.