Impact of global recession: The shine of gold and silver faded, experts told the real reason for the fall in prices.
Delhi. Gold prices fell marginally by Rs 3 to Rs 1,53,940 per 10 grams in futures trade on Tuesday as speculators reduced deals amid weak spot demand. On the Multi Commodity Exchange (MCX), the price of gold contract for delivery in June fell by Rs 3 to Rs 1,53,940 per 10 grams. 439 lots were traded in this.
According to analysts, gold prices fell due to reducing deals by market participants. Globally, gold futures fell 0.55 percent to $ 4,794.27 an ounce in New York.
Silver fell 946 to Rs 2,51,599 per kg
Silver futures prices fell by Rs 946 to Rs 2,51,599 per kg on Tuesday as participants reduced their bets. On the Multi Commodity Exchange (MCX), silver contracts for delivery in May fell by Rs 946, or 0.37 per cent, to Rs 2,51,599 per kg. 778 lots were traded in this.
Analysts said selling by participants mainly put pressure on silver prices. Globally, silver price in New York fell 0.55 percent to $ 79.29 an ounce.
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