Prices Decline Amid Cooling Demand

New Delhi: Gold prices fell from Rs 349 to Rs 1,52,350 per 10 grams in futures trade on Monday due to decline in spot demand. On the Multi Commodity Exchange, gold contracts for June delivery were traded at Rs 1,52,350 per 10 grams, down Rs 349 or 0.23 per cent, in a business turnover of 1,119 lots.

Analysts attributed the decline in gold prices to weak global signals.

Globally, gold futures fell 0.05 percent to $4,711.98 per ounce in New York.

Meanwhile, silver prices fell by Rs 817 to Rs 2,43,819 per kilogram on Monday as participants reduced their bets. Silver contracts for May delivery on the Multi Commodity Exchange fell by Rs 817 or 0.33 per cent to Rs 2,43,819 per kg on a business turnover of 1,098 lots.

Analysts said that participants’ sales mainly put pressure on silver prices.

On a global scale, silver was traded at $75.94 per ounce, up 0.29 percent in New York.