2 days ago
Gold, Silver Prices Fall in Futures Trade Amid Weak Demand
Gold and silver prices went down in futures trading on Monday.
Futures are agreements to buy or sell something at a later time.
Gold prices in India fell by Rs 2,045 for every 10 grams.
Silver prices fell by Rs 1,955 for every kilogram.
Analysts said fewer buyers in the spot market helped push gold lower.
They said selling and fewer bets by traders affected silver.
Prices were also lower in the international market in New York.
Traders are watching demand and international prices to see what happens next.
Gold October futures on the MCX fell Rs 2,045, or 1.31%, to Rs 1,54,236 per 10 grams.
The decline in gold was attributed to weaker demand in the spot market.
Silver December futures dropped Rs 1,955, or 0.81%, to Rs 2,40,489 per kilogram.
Analysts linked the silver decline to participant sell-offs and reduced bets.
In New York, gold fell 0.51% to USD 4,432.51 per ounce and silver declined 1.04% to USD 68.22 per ounce.
- Who
- Gold and silver traders and market participants.
- What
- Gold and silver futures prices declined in domestic and international trading.
- Where
- On the Multi Commodity Exchange in India and in New York.
- When
- Monday.
- Why
- Gold fell amid weak spot demand, while silver was pressured by selling and reduced bets by market participants.
Key facts
- Gold contract
- October delivery futures on the MCX
- Gold price
- Rs 1,54,236 per 10 grams after falling Rs 2,045, or 1.31%
- Gold turnover
- 2,680 lots
- Silver contract
- December delivery futures on the MCX
- Silver price
- Rs 2,40,489 per kilogram after falling Rs 1,955, or 0.81%
- Silver turnover
- 2,004 lots
- International prices
- Gold fell 0.51% to USD 4,432.51 per ounce and silver fell 1.04% to USD 68.22 per ounce in New York
Sources
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