1. Gold futures fall Rs 98; Silver slumps Rs 272 on weak global cues

Gold futures fall Rs 98; Silver slumps Rs 272 on weak global cues

Amid a weakening global trend and profit-booking, gold futures fell Rs 98 to Rs 28,018 per 10 gm today as participants trimmed their positions. Taking weak cues from overseas markets, silver prices also fell by Rs 272 to Rs 37,180 per kg in futures trade today.

By: | Published: July 7, 2017 11:44 AM
Gold prices in global market retreated as much as 0.39 per cent to USD 1,220.20 an ounce in Singapore today. (Image: Reuters)

Gold

Amid a weakening global trend and profit-booking, gold futures fell Rs 98 to Rs 28,018 per 10 gm today as participants trimmed their positions. In futures trade, gold for delivery in August contracts was trading Rs 98 or 0.35 per cent lower at Rs 28,018 per 10 gm in a business turnover of 514 lots at the Multi Commodity Exchange.

On similar lines, the metal for delivery in far-month October Rs 77 or 0.27 per cent to Rs 28,210 per 10 gm in 3 lots.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas coupled with profit- booking. Meanwhile, gold prices in global market retreated as much as 0.39 per cent to USD 1,220.20 an ounce in Singapore today.

Silver

Taking weak cues from overseas markets, silver prices fell by Rs 272 to Rs 37,180 per kg in futures trade today as participants cut down their bets. At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 272 or 0.73 per cent to Rs 37,180 per kg in a business turnover of 568 lots.

Similarly, the white metal for delivery in far-month December declined by Rs 194 or 0.51 per cent to Rs 37,868 per kg in a business volume of four lots.

In the international market, silver fell 0.94 per cent to USD 15.88 an ounce in Singapore today. Traders said reducing of exposure by participants, tracking a weak trend in global markets, led to the fall in silver prices at futures trade here.

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