Sleep fast After watching, the decline has been seen once again. Futures prices fell at the opening of Wednesday’s trade, while spot prices also fell. But with the increase in demand by the end of business, futures prices went up. However, the spot price fell. The market did not find support amid mixed global cues and gold and silver prices registered a slight decline.
Gold prices fell by Rs 97 to Rs 47,853 per 10 grams in the national capital on Wednesday amid a weak trend in the prices of precious metals in the global markets. According to HDFC Securities, gold was at Rs 47,950 in the previous session.
Silver also fell by Rs 1,417 to Rs 71,815 per kg. Silver had closed at Rs 73,232 on the previous day. In the international market, gold and silver prices fell marginally to $ 1,867 and $ 27.88 an ounce, respectively.
Future Price of Gold and Silver
Due to strong spot demand, speculators bought fresh deals, due to which the price of gold rose by Rs 78 to Rs 48,385 per 10 grams in the local futures market on Wednesday. At the Multi Commodity Exchange, gold for delivery in the month of June rose by Rs 78, or 0.16 per cent, to Rs 48,385 per 10 grams. It traded for 6,312 lots.
On the other hand, weak demand was seen in silver, traders reduced the size of their deals, due to which the price of silver fell by Rs 541 to Rs 72,655 per kg in futures trade on Wednesday. At the Multi Commodity Exchange, the futures contract for the July delivery of silver was down by Rs 541, or 0.74 per cent, to Rs 72,655 per kg. In this futures contract, deals were done for 11,025 lots. Globally, silver fell 0.91 percent to USD 28.08 an ounce in New York.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)