Precious Metals
D A I L Y B U Z Z
GOLD
Gold prices fell by 0.09 per cent on Thursday at the domestic markets with events surrounding Greece in sharper focus and the implications for euro zone stability. However, losses were curbed in the midst of speculation of further monetary easing from the People's Bank of China after Tuesday's lower-than-expected inflation data.Gold futures for April 2015 contract, at MCX, were trading at Rs. 26,641 per 10 grams, down by 0.09 per cent after opening at Rs. 26,609 against the previous closing price of Rs. 26,665. It touched the intra-day low of Rs. 26,550 till the trading. (At 11.51 AM).
SILVER
Silver prices fell Rs. 253 to Rs. 37,465 per kg at the futures trade today as speculators reduced positions amid overnight weakness in global markets.On the Multi Commodity Exchange, silver for delivery in May lost Rs. 253 or 0.67 per cent to Rs. 37,465 per kg with a turnover of 68 lots.Similarly, silver for delivery in March dropped by Rs. 237 or 0.63 per cent to Rs. 37,170 per kg in a business turnover of 1,208 lots.Marketmen said a weak trend in global markets, as strengthening dollar and prospects for higher US interest rates have curbed the precious metal’s appeal as a protection of wealth, put pressure on silver futures here.Meanwhile, silver dropped 0.71 per cent to $16.79 an ounce in New York in yesterday’s trade.
