Gold price eases Rs. 23, silver flat
Gold price in the national capital on Tuesday dipped Rs23 to Rs47,814 per 10 grams, in line with weak international precious metal prices.
image for illustrative purpose
New Delhi: Gold price in the national capital on Tuesday dipped Rs23 to Rs47,814 per 10 grams, in line with weak international precious metal prices.
In the previous trade, the precious metal settled at Rs 47,837 per 10 grams. Silver was flat at Rs 61,835 per kg from Rs 61,836 per kg in the previous trade. In the international market, gold was trading marginally lower at $1,817 per ounce and silver was flat at $22.94 per ounce. "Gold prices traded weak with spot gold prices at COMEX trading marginally down at $1,817 per ounce on Tuesday," Tapan Patel, senior analyst (commodities), HDFC Securities.
Futures fall as speculators trim positions
Gold futures fell Rs26 to Rs47,891 per 10 grams in the futures trade as speculators reduced their positions amid low demand. Silver futures too eased by Rs 13 to Rs 61,885 per kg as participants reduced their bets on low demand.
On the Multi Commodity Exchange (MCX), gold contracts for February traded lower by Rs26, or 0.05 per cent, to Rs 47,891 per 10 grams in a business turnover of 5,855 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold traded 0.28 per cent lower at $1,811.40 an ounce in New York.
On MCX, silver contracts for the March delivery declined Rs 13, or 0.02 per cent, to Rs 61,885 per kg in a business turnover of 12,499 lots. The metal traded higher by 0.14 per cent at $22.95 per ounce in New York.
