Gold Futures Slip On Profit Booking, Silver Futures Gain On Global Cues

Gold futures on Friday traded lower by Rs 56 to Rs 38,522 per 10 gram due to profit-booking by participants on low demand. Gold contracts for December delivery traded lower by Rs 56, or 0.15 per cent, at Rs 38,522 per 10 gm in 16,902 lots. Similarly, gold for delivery in February next year fell by Rs 45, or 0.12 per cent, to Rs 38,717 per 10 gram in 5,447 lots. However, gold prices rose 0.06 per cent to USD 1515.70 an ounce in New York.

Silver prices on Friday rose by Rs 26 to Rs 46,790 per kg in futures trade as participants widened their bets amid a firm trend in precious metals overseas. On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 26, or 0.06 per cent, to Rs 46,790  per kg in a business turnover of 10,252  lots.

Similarly, the white metal for delivery in March next year was trading flat at Rs 47,606  per kg in 1,220  lots. Analysts said widening of positions by participants in line with a firm global trend influenced silver prices. In the international market, silver was up 0.43 per cent at USD 18.15 an ounce in New York.