Gold prices fell by Rs 198 to Rs 29,197 per 10 grams in futures trade today due to profit booking by participants at prevailing high levels amid weak global trends.
Gold prices fell by Rs 198 to Rs 29,197 per 10 grams in futures trade today due to profit booking by participants at prevailing high levels amid weak global trends. At the Multi Commodity Exchange, gold for delivery in February 2018 lost Rs 198, or 0.67 per cent, at Rs 29,197 per 10 grams in a business turnover of 330 lots. Similarly, the metal for delivery in December eased Rs 189, or 0.65 per cent, to Rs 29,020 per 10 grams in a modest volume of just five lots. Analysts attributed the fall in gold futures to profit- booking by traders at the existing level and the metal’s losses in global market in view of a stronger dollar. Globally, the gold was trading 0.46 per cent lower at USD 1,273.70 an ounce in Singapore today. Silver prices fell by Rs 87 to Rs 38,359 per kg in futures trade today as speculators booked profits amid a weak trend overseas. Silver for delivery in far-month March was down by Rs 87, or 0.23 per cent, to Rs 38,359 per kg in futures trade at the Multi Commodity Exchange. It clocked a business volume of 426 lots.
Market analysts said profit-booking at prevailing levels and fresh losses in the white metal overseas mainly pulled down the prices in futures trade. In the international market, silver traded 0.40 per cent lower at USD 16.36 an ounce in Singapore.