Gold declines by Rs. 152; silver tumbles Rs. 540
Gold declined by Rs 152 to Rs 48,107 per 10 gram in the national capital on Monday in line with weak global trends, according to HDFC Securities.
image for illustrative purpose
New Delhi: Gold declined by Rs 152 to Rs 48,107 per 10 gram in the national capital on Monday in line with weak global trends, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 48,259 per 10 gram. Silver also tumbled Rs 540 to Rs 69,925 per kilogram from Rs 70,465 per kilogram in the previous trade. In the international market, gold was trading lower at $1,883 per ounce and silver was flat at $27.55 per ounce. "Gold prices declined on Monday pressured by the stronger dollar," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel
Futures fall on low demand
Gold prices fell by Rs 167 to Rs 48,827 per 10 gram in the futures trade on Monday as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by Rs 167, or 0.34 per cent, to Rs 48,827 per 10 gram in a business turnover of 11,798 lots. Analysts attributed the fall in gold prices to trimming of positions by participants. Globally, however, gold traded 0.30 per cent lower at $1,886.30 an ounce in New York.
