Precious metals: Gold and silver futures slips on weak global cues

New Delhi-India (Mar 9)  Gold prices on Monday fell by Rs 73 to Rs 44,085 per 10 gram in futures trade as participants cut down their positions tracking a weak trend overseas.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 73, or 0.17 per cent, to Rs 44,085 per 10 gram in a business turnover of 6,597 lots.

The yellow metal for June delivery declined by Rs 111, or 0.25 per cent, to Rs 44,472 per 10 gram in 937 lots.

Analysts said subdued overseas cues influenced sentiments here.

Globally, gold was trading 0.46 per cent lower at $1,664.70 per ounce in New York.

Silver
Silver futures on Monday plunged Rs 1,479 to Rs 45,490 per kg as participants cut down their bets taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for May delivery tumbled by Rs 1,479, or 3.15 per cent, to Rs 45,490 per kg in a business turnover of 10,116 lots.

Besides, the white metal to be delivered in July fell by Rs 1,569, or 3.3 per cent, to Rs 45,907 per kg in 373 lots.

In the international market, silver prices traded 3.67 per cent lower at $16.63 an ounce in New York.

ETmarkets