ET Markets
12,119.00-129.25
Stock Analysis, IPO, Mutual Funds, Bonds & More

Precious Metals: Gold trades lower, silver trades higher in futures

Gold prices fell by Rs 4 to Rs 37,579 per 10 gram in futures trade on Tuesday.

PTI|
Last Updated: Dec 10, 2019, 04.03 PM IST|Original: Dec 10, 2019, 04.03 PM IST
0Comments
Getty Images
silver-getty
Silver futures on Tuesday traded higher by Rs 71 at Rs 43,509 per kg.
Gold prices fell by Rs 4 to Rs 37,579 per 10 gram in futures trade on Tuesday as speculators reduced their positions amid low demand even as the metal gained overseas.

On the Multi Commodity Exchange, gold contracts for February delivery traded lower by Rs 4, or 0.01 per cent, at Rs 37,579 per 10 gram in a business turnover of 1,647 lots.

However, the metal for April delivery was trading higher by Rs 9 at Rs 37,662 per 10 gram in 2,236 lots.

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

Globally, gold traded 0.26 per cent higher at $1,468.70 an ounce in New York.

Silver

Silver futures on Tuesday traded higher by Rs 71 at Rs 43,509 per kg as speculators raised their bets, driven by a firm trend overseas.

Silver contracts for March delivery rose by Rs 71, or 0.16 per cent, to Rs 43,509 per kg in a business turnover of 14,497 lots on the Multi Commodity Exchange.

Besides, the white metal for May delivery shot up by Rs 14, or 0.03 per cent, to Rs 44,021 per kg in 224 lots.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

In the international market, silver traded 0.23 per cent higher at $16.68 an ounce in New York.

Also Read

Precious Metals: Gold, silver slump in futures trade amid low demand

Precious Metals: Gold rises, silver slumps in futures trade

Precious Metals: Gold, silver slump in futures trade amid low demand

Precious Metals: Gold, silver rise in futures trade amid high demand

Precious metals: Gold, silver futures gain on global cues

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service