New Delhi: Gold prices on November 11 fell by 0.91 per cent to Rs 25,498 per ten grams in futures trade in line with weak overseas trends. Gold prices fell by Rs 235, or 0.91 per cent, to trade at Rs 25,498 per 10 grams for delivery in December contracts at the Multi Commodity Exchange in 851 lots.
The far-month February next year contracts of gold dropped by Rs 219, or 0.84 per cent, to Rs 25,717 per 10 gram in 29 lots. Analysts said weakness in the overseas markets, where gold dipped to over four-year as investment demand waned amidst surging dollar, put pressure on the precious metal prices at futures trade. Globally, gold traded at USD 1,149.30 an ounce in Singapore from USD 1,151.47 in 10 October’s trade.
Silver futures on November 11 fell over 1 per cent to Rs 34,392 per kg as participants engaged in trimming positions, largely in tandem with a weakening trend overseas. At the Multi Commodity Exchange, the December contracts of silver traded lower by Rs 353, or 1.02 per cent, to Rs 34,392 per kg in a business turnover of 943 lots.
The far-month March 2015 contracts fell by Rs 341, or 0.96 per cent, to Rs 35,080 per kg in business volume of 30 lots. In Singapore, silver slide as much as 0.70 per cent to USD 15.50 an ounce. Analysts said weakening trend overseas as surging dollar hurting the precious metals' demand, mainly put pressure on the silver prices at futures trade here.
