Comments
Gold prices drifted lower by Rs 112 to Rs 31,305 per 10 gram at the futures trade due to profit-booking by investors at existing levels and a weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in December was trading lower by Rs 112 or 0.36 per cent at Rs 31,305 per 10 gram with a business turnover of 409 lots. The metal for delivery in February next year, too, fell Rs 112 or 0.35 per cent to Rs 31,533 per 10 gram in 22 lots.
Analysts said apart from profit-booking by speculators at existing levels, the metal’s fresh weakness in the overseas markets weighed on gold futures. In the international market, gold lost 0.16 per cent to $ 1,199.40 an ounce in Singapore.
Silver prices dropped by Rs 113 to Rs 38,858 per kg at the futures trade. Silver for delivery in far-month December was trading lower by Rs 113 or 0.29 per cent to Rs 38,858 per kg in a business turnover of 790 lots at the Multi Commodity Exchange (MCX).
Globally, silver traded 0.03 per cent lower at $14.64 an ounce in Singapore as as investors remained cautious after US Treasury yields hit multi-year peaks and on expectations that stronger monthly employment data could boost the Federal Reserve's case for a tighter monetary policy.
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.