Precious metals: Gold futures fall on weak global cues; silver rises

New Delhi: Gold futures on Thursday fell by 0.91 per cent to Rs 39,360 per 10 gram as participants trimmed their positions amid a weak global trend.

On the Multi Commodity Exchange, gold prices for April delivery fell by Rs 363, or 0.91 per cent, to Rs 39,360 per 10 gram in a business turnover of 2,555 lots.

The yellow metal for June delivery declined by Rs 338, or 0.85 per cent, to Rs 39,565 per 10 gram in 297 lots.


Market analysts said the fall in gold futures was mostly in tune with a weak trend overseas.

Globally, gold was trading 0.10 per cent lower at $1,476.40 per ounce in New York.

Silver
Silver prices on Thursday jumped Rs 503 to Rs 34,410 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 503, or 1.48 per cent, to Rs 34,410 per kg in 6,445 lots.

Similarly, the white metal for delivery in July was trading higher by Rs 442, or 1.28 per cent, at Rs 34,864 per kg in 400 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 2.91 per cent higher at $12.12 an ounce in New York.