Silver prices declined 0.19% to Rs 39,740 per kg in futures trade on Wednesday as speculators reduced their exposure amid a weak trend in global markets while, Gold futures prices today fell 0.09% to Rs 27,272 per 10 grams as speculators offloaded their positions amid a weak global trend.
Silver prices declined 0.19% to Rs 39,740 per kg in futures trade on Wednesday as speculators reduced their exposure amid a weak trend in global markets.
At Multi Commodity Exchange, silver prices for delivery in far-month September contracts traded lower by Rs 75, or 0.19%, to Rs 39,740 per kg in business turnover of 4 lots.
Similarly, the white metal prices for delivery in July declined Rs 61, or 0.16%, to Rs 39,215 per kg in business volume of 357 lots.
In the international market, silver prices traded little changed at 17.10 an ounce in Singapore. Prices tumbled 3.5% on Tuesday, the most since February 17.
Analysts attributed the fall in silver prices in futures trade to a weak trajectory in global markets before the Fed releases minutes of its last meeting amid speculation that an improving housing market will boost the case for higher interest rates.
Gold futures prices today fell 0.09% to Rs 27,272 per 10 grams as speculators offloaded their positions amid a weak global trend.
At Multi Commodity Exchange, gold prices for delivery in June fell Rs 24, or 0.09%, to Rs 27,272 per 10 grams in business turnover of 266 lots.
Similarly, metal prices for delivery in far-month August declined Rs 14, or 0.05%, to Rs 27,512 per 10 grams in eight lots.
Market analysts said the fall in gold futures is mostly attributed to trimming of positions by speculators, tracking a weak trend overseas before the Federal Reserve releases minutes of its last meeting amid speculation that an improving housing market will boost case for higher interest rates.
Meanwhile, gold traded lower at $1,208.77 an ounce from USD 1,207.86 in Singapore in yesterday when prices slumped 1.4%, the most since April 30.
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