Gold & Silver

Gold, silver futures down on weak global cues

PTI New Delhi | Updated on January 12, 2018 Published on June 09, 2017

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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.

Published on June 09, 2017
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