On Monday, speculators weakened their hold on the demand for gold in the futures market, due to which gold prices fell by Rs 360 to Rs 50,110 per 10 grams. On the other hand, silver fell by Rs 545 to Rs 60,600 per kg due to weak demand in futures trade.
Fall in gold prices
Gold delivered in October fell by Rs 360, or 0.71 per cent, to Rs 50,110 per 10 grams, with a turnover of 67 lots at the Multi Commodity Exchange. At the same time, the price of gold delivered in December dropped by Rs 425, or 0.84 per cent, to Rs 50,145 per 10 grams, with a business turnover of 15,521 lots. Gold was trading 0.52% down at $ 1,897.70 an ounce in New York.
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Fall in the price of silver
Silver for the December delivery fell by Rs 545, or 0.89 per cent, to Rs 60,600 per kg on the Multi Commodity Exchange, with a turnover of 16,180 lots. Silver was trading 0.18% lower at $ 23.99 an ounce in New York.
There were ups and downs on Thursday
On Thursday, the price of gold delivered in December at the Multi Commodity Exchange fell by Rs 48, or 0.1 per cent, to Rs 50,286 per 10 grams, with a turnover of 15,229 lots. At the same time, silver for December delivery at Multi Commodity Exchange rose by Rs 334, or 0.56 per cent to Rs 60,253 per kg, with a turnover of 15,958 lots.
