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Precious metals: Gold, silver futures slip amid weak global trend

Globally, gold was trading 0.12 per cent lower at USD 1,465.60 an ounce in New York.

PTI|
Nov 27, 2019, 02.30 PM IST
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Silver prices on Wednesday fell by Rs 180 to Rs 44,255 per kg in futures trade as speculators reduced their bets in line with weak global trend.

Commodity Summary
MCX

GOLD
SILVER
New Delhi: Gold prices on Wednesday fell Rs 96 to Rs 37,622 per 10 gram in futures trade as participants cut down their bets amid a weak global trend.

On the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 96, or 0.25 per cent, to Rs 37,622 per 10 gram in a business turnover of 1,624 lots.

The yellow metal for February delivery plunged Rs 79, or 0.21 per cent, to Rs 37,714 per 10 gram in 321 lots.

Analysts attributed the fall in prices to trimming of positions by investors, tracking a weak trend in global market.

Globally, gold was trading 0.12 per cent lower at USD 1,465.60 an ounce in New York.

Silver

Silver prices on Wednesday fell by Rs 180 to Rs 44,255 per kg in futures trade as speculators reduced their bets in line with weak global trend.

On the Multi Commodity Exchange, silver for delivery in December traded lower by Rs 180, or 0.41 per cent at Rs 44,255 per kg in a business turnover of 2,691 lots.

Also, the white metal for delivery in March next year was quoting lower by Rs 238, or 0.53 per cent, at Rs 44,928 per kg in a business volume of 522 lots.

In the international market, silver fell 0.28 per cent to USD 17.14 an ounce in New York.

Analysts said, weak trend in precious metals in global markets and trimming of positions by speculators weighed on silver futures here.

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