Gold prices fall by 111, silver rates decline by 168
Gold prices on Friday fell by Rs 111 to Rs 37,974 per 10 gram in futures trade as participants cut down their bets amid a weak global trend. On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 111, or 0.29 per cent, to Rs 37,974 per 10 gram in a business turnover of 1,163 lots. The yellow metal for April delivery fell by Rs 84, or 0.22 per cent, to Rs 38,035 per 10 gram in 46 lots. Analysts attributed the fall in prices to trimming of positions by investors, tracking a weak trend in global market. Globally, gold was trading 0.20 per cent lower at USD 1,480.20 an ounce in New York.
Silver futures on Friday slumped by Rs 168 to Rs 44,442 per kg as participants cut down their bets taking weak cues from overseas markets. On the Multi Commodity Exchange, silver contracts for December delivery tumbled Rs 168, or 0.38 per cent, to Rs 44,442 per kg in a business turnover of 2,091 lots. In the international market, silver prices fell 0.43 per cent to USD 16.99 an ounce in New York. Traders said the fall in silver prices in futures trade was largely in line with a weak trend in precious metals in global markets.
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