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Precious Metals: Gold, silver futures fall on weak domestic cues – Economic Times

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New Delhi: Gold futures traded lower by Rs 177 to Rs 37,986 per 10 gram on Friday due to profit-booking by participants in tandem with precious metal prices slipping overseas.

Gold for delivery in most-traded October was trading lower by Rs 177, or 0.46 per cent, to Rs 37,986 per 10 gram in a business volume of 3,044 lots.

In a similar fashion, gold to be delivered in December fell by Rs 256, or 0.66 per cent, at Rs 38,635 per 10 gram in 526 lots.

Analysts said the fall in gold futures was mostly attributed to profit-booking by participants at the domestic market.

Globally, gold prices dipped 0.40 per cent to USD 1,525 an ounce in New York.

Silver

Silver prices fell 0.2 per cent to Rs 43,992 per kg on Friday as participants reduced their exposure on low demand at the spot market.

On the Multi Commodity Exchange, silver to be delivered in most-traded September contracts was trading lower by Rs 87, or 0.2 per cent, to Rs 43,992 per kg in a business turnover of 5,487 lots.

Similarly, the white metal for delivery in far-month December contracts was down by Rs 147, or 0.32 per cent, at Rs 45,284 per kg in 659 lots.

Analysts attributed the weakness in silver prices at futures trade to cutting down of positions by participants to book profits at the current levels.