New Delhi: Amid a weakening global trend, gold futures were down by Rs 37 to Rs 25,244 per 10 gram on November 27, as participants trimmed their positions. In futures trading, gold for delivery in December traded Rs 37, or 0.15 per cent lower at Rs 25,244 per 10 gram in a business turnover of 350 lots at the Multi Commodity Exchange.
On similar lines, the metal for delivery in far-month February next year shed Rs 33, or 0.13 per cent, to Rs 25,390 per 10 gram in 32 lots.
Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas as expectations for an increase in US borrowing costs by the end of the year buoyed the dollar, curbing the metal's appeal.
Meanwhile, gold prices in global market retreated as much as 0.4 per cent to USD 1,068.36 an ounce in Singapore on November 27.
Taking weak cues from overseas markets, silver prices dropped by Rs 202 to Rs 34,511 per kg in futures trade on November 27, as participants cut down their bets. At the Multi Commodity Exchange, silver for delivery in far-month March 2016 was trading lower by Rs 202, or 0.58 per cent, to Rs 34,511 per kg in a business turnover of 202 lots.
Similarly, the white metal for delivery in December declined by Rs 141, or 0.41 per cent, to Rs 33,940 per kg in a business volume of 624 lots. In the international market, silver fell 1.09 per cent to USD 14.12 an ounce in Singapore on November 27.
Traders said the fall in silver prices at futures trade was largely in step with a weak trend in precious metals in global markets as expectations for a hike in US borrowing costs by the end of the year boosted the dollar, curbing the metal’s appeal.
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