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Precious Metals: Gold, silver fall in futures trade amid weak demand

by FxFinanceStockNews


Gold prices on Wednesday fell by Rs 60 to Rs 40,350 per 10 gram in futures trade as participants cut down their positions tracking weak trend overseas.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 60, or 0.15 per cent, to Rs 40,350 per 10 gram in a business turnover of 1,284 lots.

The yellow metal for June delivery declined by Rs 68, or 0.17 per cent, to Rs 40,510 per 10 gram in 110 lots.

Analysts said subdued overseas cues influenced sentiments here.

Globally, gold was trading 0.12 per cent lower at $1,568.20 per ounce in New York.


Silver


Silver futures on Wednesday fell by Rs 115 to Rs 45,549 per kg as participants cut down their bets taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for March delivery tumbled by Rs 115, or 0.25 per cent, to Rs 45,549 per kg in a business turnover of 2,392 lots.

Besides, the white metal to be delivered in May fell by Rs 186, 0.40 per cent, to Rs 46,024 per kg in 63 lots.

In the international market, silver prices traded 0.35 per cent lower at $17.54 an ounce in New York.





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