1. Gold futures fall Rs 103; Silver futures down Rs 163 on weak global cues, profit-booking

Gold futures fall Rs 103; Silver futures down Rs 163 on weak global cues, profit-booking

Gold fell Rs 103 to Rs 28,840 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas. Profit-booking at existing levels also weighed on the yellow metal. Amid a weakening trend overseas, silver fell Rs 163 to Rs 39,650 per kg in futures trade today.

By: | Updated: June 2, 2017 12:02 PM
Globally, gold fell 0.35 per cent to USD 1,261 an ounce in Singapore today.

Gold fell Rs 103 to Rs 28,840 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas. Profit-booking at existing levels also weighed on the yellow metal. At the Multi Commodity Exchange, gold for delivery in far-month August was trading lower by Rs 103 or 0.36 per cent at Rs 28,840 per 10 grams in a business turnover of 263 lots.

The metal for delivery in June shed Rs 17 or 0.06 per cent to Rs 28,635 per 10 grams in 14 lots. Analysts said besides a weak global trend, profit-booking by speculators at current levels weighed on gold futures here.

Globally, gold fell 0.35 per cent to USD 1,261 an ounce in Singapore today.

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Amid a weakening trend overseas, silver fell Rs 163 to Rs 39,650 per kg in futures trade today as speculators trimmed positions.Silver for delivery in July traded lower by Rs 163, or 0.41 per cent, to Rs 39,650 per kg in a business turnover of 482 lots in futures trading at Multi Commodity Exchange (MCX).

On similar lines, the white metal for delivery in September was trading lower by Rs 122, or 0.30 per cent, at Rs 40,135 per kg in a business turnover of 11 lots.

In international market, silver traded 0.58 per cent lower at USD 17.17 an ounce in Singapore today.

Market analysts said, a weak trend in precious metals in global markets and trimming of positions by speculators at prevailing levels, kept pressure on silver futures.

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