Gold Falls to Rs 1.44 Lakh, Silver Slips to Rs 2.19 Lakh in Futures Trade
Gold Drops Rs 818 and Silver Rs 817 on MCX Amid Weak Demand and Profit Booking
Gold and silver futures declined on Friday as weak domestic demand, profit booking and softer global cues weighed on precious metal prices.
On the Multi Commodity Exchange (MCX), gold contracts for October delivery fell by Rs 818, or 0.56 per cent, to Rs 1,44,022 per 10 grams in a business turnover of 683 lots. Analysts attributed the decline in gold prices to weaker spot demand.
Silver futures for September delivery also slipped by Rs 817, or 0.37 per cent, to Rs 2,19,150 per kilogram, with a turnover of 456 lots. Market experts said selling pressure and profit booking by participants dragged silver prices lower.
In the international market, gold futures were trading 0.69 per cent lower at USD 4,075 per ounce in New York, while silver declined 0.70 per cent to USD 58.57 per ounce.
Analysts said the weakness in domestic precious metal futures mirrored the softer global trend, as investors remained cautious and reduced fresh positions amid subdued demand and broader market uncertainty.
