Silver prices registered a big fall on Monday. Silver fell for the third consecutive day and its price fell by Rs 1,300 to close at Rs 84,200 per kg due to weak demand from coin makers and industrial units in the local bullion market amid increased demand from jewelers. In the previous trading session, silver had closed at Rs 85,500 per kg. Apart from this, the price of gold rose by Rs 250 to reach Rs 72,800 per 10 grams. In the previous trading session, gold closed at Rs 72,550 per 10 grams on Saturday.
Price of gold of 99.5 percent purity
According to the news, the All India Sarafa Association said that the price of gold of 99.5 percent purity rose by Rs 250 to Rs 72,450 per ten grams. Its previous closing price was Rs 72,200 per 10 grams. Globally, Comex gold is trading at $ 2,461.10 an ounce, down $ 8.70 an ounce from its previous close. Dilip Parmar, research analyst at HDFC Securities, said that Comex had a volatile session, with a sharp decline, but later it improved, as traders anticipated heavy stock selling and rising tensions in West Asia.
Quote on MCX
Silver also declined to close at $27.47 an ounce in New York. Meanwhile, gold futures on the Multi Commodity Exchange (MCX) fell by Rs 309, or 0.44 per cent, to Rs 69,480 per 10 grams. The most traded October contract of gold hit an intraday low of Rs 69,453 per 10 grams. Besides, silver contract for delivery in September on MCX fell by Rs 2,719, or 3.3 per cent, to Rs 79,774 per kg.
gold price in futures trading
Gold prices on Monday rose by Rs 237 to Rs 70,026 per 10 gram in futures trade as speculators created fresh deals amid strong spot demand. On the Multi Commodity Exchange, the price of the contract for delivery in August rose by Rs 237, or 0.34 per cent, to Rs 70,026 per 10 gram. A total of 19,248 lots were traded. Market analysts said fresh buying by traders led to the rise in gold futures prices.
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