Precious Metals: Gold futures weaken on spot demand, silver up on firm global trend
Globally, gold was trading lower by 0.22 per cent at $1,552.50 an ounce in New York.
New Delhi: Gold prices fell by Rs 43 to Rs 39,637 per 10 gram in futures trade on Wednesday as speculators reduced positions amid weak trend overseas.
At the Multi Commodity Exchange, gold for delivery in October was trading lower by Rs 43, or 0.11 per cent, to Rs 39,637 per 10 gram in a business turnover of 3,221 lots.
On the similar lines, the precious metal for delivery in December eased by Rs 71, or 0.18 per cent, to Rs 40,092 per 10 gram in 498 lots.
Analysts said fall in gold prices was mainly due to trimming of positions by participants. Besides, weak trend overseas influenced the sentiment, they added.
Globally, gold was trading lower by 0.22 per cent at $1,552.50 an ounce in New York.
Silve
Silver prices rose by Rs 774 to Rs 50,452 per kg in futures trade on Wednesday as investors widened positions in line with positive global market.
At the Multi Commodity Exchange, silver for delivery in September gained 1.56 per cent, or Rs 774 to Rs 50,452 per kg in turnover of 39 lots.
For December delivery, the white metal jumped Rs 470, 0.93 per cent to Rs 51,041 per kg in business turnover lots of 8,268.
Traders said, fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures.
In the international market, silver was quoting higher by 1.37 per cent at $19.50 an ounce in New York.
At the Multi Commodity Exchange, gold for delivery in October was trading lower by Rs 43, or 0.11 per cent, to Rs 39,637 per 10 gram in a business turnover of 3,221 lots.
On the similar lines, the precious metal for delivery in December eased by Rs 71, or 0.18 per cent, to Rs 40,092 per 10 gram in 498 lots.
Analysts said fall in gold prices was mainly due to trimming of positions by participants. Besides, weak trend overseas influenced the sentiment, they added.
Globally, gold was trading lower by 0.22 per cent at $1,552.50 an ounce in New York.
Silve
Silver prices rose by Rs 774 to Rs 50,452 per kg in futures trade on Wednesday as investors widened positions in line with positive global market.
At the Multi Commodity Exchange, silver for delivery in September gained 1.56 per cent, or Rs 774 to Rs 50,452 per kg in turnover of 39 lots.
For December delivery, the white metal jumped Rs 470, 0.93 per cent to Rs 51,041 per kg in business turnover lots of 8,268.
Traders said, fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures.
In the international market, silver was quoting higher by 1.37 per cent at $19.50 an ounce in New York.