Precious metals: Gold, sliver futures ease on weak global cues

New Delhi: Gold prices on Tuesday fell by Rs 477 to Rs 39,041 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 477, or 1.21 per cent, to Rs 39,041 per 10 gram in a business turnover of 4,662 lots.

The yellow metal for June delivery declined by Rs 554, or 1.39 per cent, to Rs 39,335 per 10 gram in 757 lots.


Analysts said subdued overseas cues influenced sentiments here.

Globally, gold was trading 0.20 per cent lower at $1,483.60 per ounce in New York.

Silver
Silver futures on Tuesday plunged Rs 748 to Rs 35,459 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 748, or 2.07 per cent, to Rs 35,459 per kg in a business turnover of 7,914 lots.

Besides, the white metal to be delivered in July fell by Rs 733, or 1.99 per cent, to Rs 36,024 per kg in 374 lots.

In the international market, silver prices traded 1.10 per cent lower at $12.68 an ounce in New York.

Analysts said weak trend overseas mainly kept pressure on silver prices at futures prices here.