India's gold demand rises 8 pc in Jan-March despite soaring prices
Gold futures declined Rs45 to Rs70,984 per 10 grams in futures trade on the Multi Commodity Exchange (MCX) amid profit booking. Silver futures jumped Rs21 to Rs80,699 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On the MCX, gold contracts for June delivery traded lower Rs45 or 0.06 per cent at Rs70,984 per 10 grams in a business turnover of 19,314 lots. Analysts attributed the fall in gold prices to weak global cues and profit booking at higher level.
Globally, gold was trading 0.14 per cent lower at $2,338.90 per ounce in New York. On MCX, silver contracts for May delivery increased Rs21 or 0.03 per cent to Rs80,699 per kg in 16,303 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend. Globally, silver was trading lower by 0.03 per cent at $27.63 per ounce in New York.
