Gold futures fall on low demand, silver futures rise

Gold prices on Wednesday fell ₹36 to ₹59,910 per 10 grams in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded lower by ₹36 or 0.06 per cent at ₹59,910 per 10 grams in a business turnover of 319 lots.

Analysts attributed the fall in gold prices to the trimming of positions by participants.

Also read: Rupee falls 3 paise to 82.70 against US dollar

Globally, gold was trading 0.05 per cent lower at $1,976.20 per ounce in New York.

Silver futures increase

Silver prices on Wednesday increased ₹475 to ₹71,518 per kilogramme in futures trade as participants widened their bets on a firm spot demand.

On the MCX, silver contracts for July delivery gained ₹475 or 0.67 per cent to ₹71,518 per kg in 14,243 lots.

Also read: Weak Chinese economic data drags crude oil below $75/barrel

Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend.

Globally, silver was trading 0.86 per cent higher at $23.44 per ounce in New York.

Related articles