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

by FxFinanceStockNews


Gold prices on Monday fell by Rs 171 to Rs 39,700 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 February fell by Rs 171, or 0.43 per cent, to Rs 39,700 per 10 gram in a business turnover of 2,145 lots.

The yellow metal for April delivery fell by Rs 232, or 0.58 per cent, to Rs 39,822 per 10 gram in 441 lots.

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

Globally, gold was trading 0.30 per cent lower at $1,555.40 an ounce in New York


Silver


Silver futures on Monday slumped by Rs 261 to Rs 46,650 per kg as participants cut down their bets on low spot demand.

On the Multi Commodity Exchange, silver contracts for March delivery tumbled Rs 261, or 0.56 per cent, to Rs 46,650 per kg in a business turnover of 2,807 lots.

Besides, the white metal to be delivered in May fell by Rs 229, to Rs 47,218 per kg in 14 lots.

In the international market, silver prices traded 0.33 per cent lower at $18.05 an ounce in New York.





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