Precious Metals: Gold, silver futures fall on weak trend overseas
On the MCX, gold contracts for August delivery traded lower by Rs 46 at Rs 32,999 per 10 gram.
New Delhi: Gold prices fell by Rs 46 to Rs 32,999 per 10 gram in futures trade Monday as speculators reduced exposure amid a negative trend at the spot markets.
On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 46, or 0.14 per cent, at Rs 32,999 per 10 gram with a business turnover of 17,340 lots.
Gold contracts for October delivery also fell by Rs 61, or 0.18 per cent, to Rs 33,158 per 10 gram in 2,601 lots.
Marketmen said the fall in gold prices in futures trade was mostly due to trimming of positions by participants.
Globally, gold traded 0.20 per cent lower at USD 1,341.80 per ounce in New York.
Silver prices eased by Rs 7 to Rs 37,028 per kg in futures trade Monday as speculators cut positions amid a weak trend overseas.
On the Multi Commodity Exchange, silver contracts for July moved down by Rs 7, or 0.02 per cent, to Rs 37,028 per kg in a business turnover of 19,052 lots.
However, silver for September delivery rose by Rs 6, or 0.02 per cent, to Rs 37,425 per kg in 7,209 lots.
Analysts said cutting down of positions by speculators, in line with a weak trend overseas, led to the fall in silver price.
Globally, silver was trading 0.09 per cent lower at USD 14.79 an ounce in New York.
On the Multi Commodity Exchange, gold contracts for August delivery traded lower by Rs 46, or 0.14 per cent, at Rs 32,999 per 10 gram with a business turnover of 17,340 lots.
Gold contracts for October delivery also fell by Rs 61, or 0.18 per cent, to Rs 33,158 per 10 gram in 2,601 lots.
Marketmen said the fall in gold prices in futures trade was mostly due to trimming of positions by participants.
Globally, gold traded 0.20 per cent lower at USD 1,341.80 per ounce in New York.
Silver prices eased by Rs 7 to Rs 37,028 per kg in futures trade Monday as speculators cut positions amid a weak trend overseas.
On the Multi Commodity Exchange, silver contracts for July moved down by Rs 7, or 0.02 per cent, to Rs 37,028 per kg in a business turnover of 19,052 lots.
However, silver for September delivery rose by Rs 6, or 0.02 per cent, to Rs 37,425 per kg in 7,209 lots.
Analysts said cutting down of positions by speculators, in line with a weak trend overseas, led to the fall in silver price.
Globally, silver was trading 0.09 per cent lower at USD 14.79 an ounce in New York.