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Precious Metals: Gold, silver futures fall on muted demand, profit booking


New Delhi: Gold futures traded lower by Rs 71 to Rs 38,482 per 10 gram on Monday due to profit-booking by participants in tandem with precious metal prices slipping in domestic markets.

Gold for delivery in October was trading lower by Rs 71, or 0.18 per cent, to Rs 38,482 per 10 gram in a business volume of 2,954 lots.

The yellow metal to be delivered in December fell by Rs 70, or 0.18 per cent, at Rs 38,960 per 10 gram in 586 lots.

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

Globally, however, the gold prices were trading higher 0.07 per cent to $1,516.60 an ounce in New York.

Silver

Silver prices fell by Rs 368 to Rs 47,517 per kg in futures trade on Monday amid profit-booking by participants on existing prices.

On Multi Commodity Exchange, silver for delivery in December was trading lower by Rs 368, or 0.77 per cent, to Rs 47,517 per kg in a business turnover of 7,915 lots.

Globally, the silver prices were trading lower by 0.02 per cent at $18.11 in New York.

Traders said off-loading of positions by participants to book profits mainly led to fall in silver prices here.





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