Gold slips Rs 16, while silver declines Rs 466 on MCX amid weak demand and selling
Gold and silver prices declined in futures trade on Tuesday, with analysts attributing the fall to weaker spot demand and selling by participants.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery fell Rs 16, or 0.01 per cent, to Rs 1,49,300 per 10 grams, with a business turnover of 1,281 lots.
Analysts attributed the decline in gold prices to weaker spot demand. Globally, gold futures fell 0.20 per cent to USD 4,131.19 per ounce in New York.
Silver contracts for December delivery on the MCX declined Rs 466, or 0.21 per cent, to Rs 2,25,621 per kg, with a business turnover of 1,938 lots.
Analysts said a sell-off by participants mainly weighed on silver prices. Globally, silver was trading 0.65 per cent lower at USD 60.67 per ounce in New York.
