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In Mcx Market Gold
prices fell by Rs 110 to Rs 27,050 per 10 grams at the bullion market here
today on easing demand from jewellers and retailers even as the metal
strengthened overseas. However, silver prices recovered by Rs 150 to Rs 36,500
per kg on scattered buying from industrial units. Traders said slackened demand
from jewellers and retailers at prevailing higher levels mainly weighed on gold
prices but a better trend overseas, restricted the fall.
Gold futures for June delivery on the Comex division of the New York Mercantile exchange eased 0.28% to $1,199.80 a troy ounce, dipping below $2,000 after solid overnight gains. Elsewhere, silver for July delivery fell 0.42% to $16.370 a troy ounce. Copper for July delivery dropped 0.14% to $2.777 a pound. Overnight, gold prices soared on Monday erasing all of its losses from a precipitous fall last week.
Oil prices fell in Asia today after a senior Saudi official signaled that the world's top crude exporter has no intention of cutting production despite a global supply glut. Oil prices have shed about half their value since last June as global supplies of the commodity, boosted by strong production in the United States and the OPEC cartel, outpace demand.
MCX SILVER May contract was trading at Rs 37113 down Rs 35, or 0.09 percent. The SILVER rate touched an intraday high of Rs 37156 and an intraday low of Rs 37035. So far 1300 contracts have been traded. SILVER prices have moved down Rs 1896, or 4.86 percent in the May series so far.
Gold futures for June delivery on the Comex division of the New York Mercantile exchange eased 0.28% to $1,199.80 a troy ounce, dipping below $2,000 after solid overnight gains. Elsewhere, silver for July delivery fell 0.42% to $16.370 a troy ounce. Copper for July delivery dropped 0.14% to $2.777 a pound. Overnight, gold prices soared on Monday erasing all of its losses from a precipitous fall last week.
Oil prices fell in Asia today after a senior Saudi official signaled that the world's top crude exporter has no intention of cutting production despite a global supply glut. Oil prices have shed about half their value since last June as global supplies of the commodity, boosted by strong production in the United States and the OPEC cartel, outpace demand.
MCX SILVER May contract was trading at Rs 37113 down Rs 35, or 0.09 percent. The SILVER rate touched an intraday high of Rs 37156 and an intraday low of Rs 37035. So far 1300 contracts have been traded. SILVER prices have moved down Rs 1896, or 4.86 percent in the May series so far.
