Categories: Business

gold silver future price down on weak global cues

Photo: FILE

Gold silver future

new Delhi. Due to the weak trend in the overseas markets, gold and silver prices have seen a decline in futures trading today. In view of the slowdown in precious metals in the overseas market, the businessmen cut their deposit deals, which has brought prices down.

In futures trade, gold fell 0.58 per cent to Rs 46,423 per 10 grams on Friday. At MCX, gold for delivery in August declined by Rs 273, or 0.58 per cent, to Rs 46,423 per 10 grams, with a business turnover of 14,382 lots. Gold for delivery in October fell by Rs 267, or 0.57 per cent, to Rs 46,547 per 10 grams, with a business turnover of 5,399 lots. Gold fell 0.62 percent to $ 1,716.70 an ounce in New York.

At the same time, silver prices fell by Rs 262 to Rs 48,549 per kg in futures trade due to reducing the size of deals. On the Multi Commodity Exchange, silver for delivery in July fell by Rs 262, or 0.54 per cent, to Rs 48,549 per kg. It traded for 11,351 lots. Similarly, the contract for delivery in the month of silver fell by Rs 308, or 0.62 per cent, to Rs 49,310 per kg. It traded for 1,347 lots. Market analysts said that silver prices were under pressure mainly in the domestic market due to a weak trend in overseas markets. Meanwhile, silver fell 0.42 percent to $ 17.99 an ounce in the New York international market.

This post was published on June 5, 2020 7:03 pm

Content Team

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