Gold Futures Fall 0.76 Per Cent On Weak Global Cues, Silver Prices Rise 0.20 Per Cent

Gold futures on Friday fell by 0.76 per cent to Rs 43,209 per 10 gram as participants trimmed their positions driven by weak global trend. On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 333, or 0.76 per cent, to Rs 43,209 per 10 gram in a business turnover of 1,103 lots. The yellow metal for June delivery declined by Rs 382, or 0.88 per cent, to Rs 43,261 per 10 gram in 1,558 lots.

Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas. Globally, gold was trading 0.30 per cent lower at USD 1,655.30 per ounce in New York.

Silver prices on Friday rose 0.20 per cent to Rs 41,403 per kg in futures trade as participants widened their bets amid a firm trend in precious metal overseas. On the Multi Commodity Exchange, silver contracts for May delivery gained Rs 81, or 0.20 per cent, to Rs 41,403 per kg in 2,487 lots.

Traders said fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures. In the international market, silver was quoting 0.37 per cent higher at USD 14.73 an ounce in New York.