Precious metals: Silver futures rise on spot demand, gold slips

Precious metals: Silver futures rise on spot demand, gold slips

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New Delhi: Silver prices on Monday rose 0.42 per cent to Rs 42,227 per kg in futures trade as participants widened their bets on firm spot demand.

On the Multi Commodity Exchange, silver contracts for May delivery gained Rs 176, or 0.42 per cent, to Rs 42,227 per kg in 3,424 lots.

Similarly, the white metal for July delivery was trading higher by Rs 106, or 0.25 per cent, at Rs 42,825 per kg in 2,711 lots.

In the international market, silver was quoting 0.45 per cent up at USD 15.52 per ounce in New York.

Gold
Gold futures prices on Monday fell 0.24 per cent to Rs 46,415 per 10 gram as participants offloaded their holdings on weak spot demand..

On the Multi Commodity Exchange, gold prices for June delivery fell by Rs 112, or 0.24 per cent, to Rs 46,415 per 10 gram in a business turnover of 15,798 lots.

The yellow metal for August delivery declined by Rs 131, or 0.28 per cent, to Rs 46,566 per 10 gram in 3,907 lots.

Market analysts said the fall in gold futures was mostly in tune with weak spot demand.

Globally, gold was trading 0.12 per cent up at USD 1,737.70 per ounce in New York.

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