Gold falls 0.23 per cent on weak global cues, Silver falls 0.32 per cent
New Delhi: Tracking weak trend overseas, gold futures fell 0.23 per cent to Rs 28,528 per 10 grams August 11 as speculators reduced their exposures amidst a weak global trend.
At the Multi Commodity Exchange, gold for delivery in December fell by Rs 65, or 0.23 per cent, to Rs 28,528 per 10 grams in a business turnover of 23 lots. On similar lines, the metal for delivery in October shed Rs 54, or 0.19 per cent, to Rs 28,550 per 10 grams in 310 lots. Market analysts said the fall in gold futures was mostly in line with a weak trend overseas as investors weighed tensions in the Middle East and Ukraine, while assets in the biggest exchange-traded product capped the largest weekly contraction in three months. Meanwhile, gold prices fell by 0.30 per cent to USD 1,305.28 an ounce in Singapore today.
Silver prices fell 0.32 per cent to Rs 43,440 per kg in futures trade on August 11 in tune with a weak trend overseas amidst profit-booking by speculators. At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 140, or 0.32 per cent, to Rs 43,440 per kg in a business turnover of 312 lots.
Similarly, the white metal for delivery in December declined by Rs 116, or 0.26 per cent, to Rs 44,300 per kg in a business volume of 12 lots. In the international market, silver traded a shade lower at USD 19.88 an ounce in Singapore on August 11. Analysts said apart from profit-booking by participants, a weak trend in precious metals led to the fall in silver prices at futures trade here.
