Gold prices fell in futures trade in the afternoon today as participants cut bets, tracking a weak movement overseas. Analysts attributed the fall in prices to trimming of positions by participants, tracking a steady trend overseas after recent gains.
At the MCX, gold futures for June 2018 contract ended at Rs 31020 per 10 grams, down by 0.61 per cent, after opening at Rs 31170 against a previous close of Rs 31211. It touched the intra-day low of Rs 31015.
White metal dips on weak global cues
Silver futures were trading lower during the afternoon trade in the domestic market on Monday as participants engaged in trimming their positions taking weak cues from global market. Marketmen attributed the fall in silver prices at futures trade to a weak trend in the precious metals overseas and profit-booking by participants at existing levels.
At the MCX, silver futures for May 2018 contract was trading at Rs 38797 per kg, down by 0.53 per cent, after opening at Rs 38,970, against a previous close of Rs 39,004. It touched the intra-day low of Rs 38,784.
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