Gold Loses Rs 135 on Demand Decline

Silver rises by Rs Rs 17 per kg. Zinc, nickel, copper, aluminium prices trade higher

Gold Loses Rs 135 on Demand Decline
Gold Loses Rs 135 on Demand Decline
PTI - 11 May 2021

In the futures market on Tuesday, gold prices fell by Rs 134 to Rs 47,817 per 10 gram, as speculators reduced their positions due to low demand. Participants increased their bets on firm spot demand, pushing silver prices up Rs 17 to Rs 71,561 per kg.

Zinc prices on Tuesday increased 0.6 per cent to Rs 236.40 per kg in the futures trade on a firm spot demand. Nickel prices rose 1.15 per cent to Rs 1,324.70 per kg as speculators built fresh positions on rising demand from alloy makers in the spot market.

Aluminium prices rose 1.05 per cent to Rs 202.90 per kg in the futures trade as speculators built up fresh positions amid a positive trend in the spot market. Copper prices traded up by 0.77 per cent at Rs 793.35 per kg on the back of a pick-up in the spot demand.

On the Multi Commodity Exchange, gold contracts for the June delivery traded lower by Rs 134, or 0.28 per cent, at Rs 47,817 per 10 gram in a business turnover of 9,388 lots, silver contracts for the July delivery gained Rs 17, or 0.02 per cent, to Rs 71,561 per kg in 10,345 lots. Zinc contracts for the May delivery rose by Rs 1.40, or 0.6 per cent, to Rs 236.40 per kg in 2,399 lots, nickel contracts gained Rs 15, or 1.15 per cent, to Rs 1,324.70 per kg in a business turnover of 1,753 lots, aluminium contracts gained Rs 2.10, or 1.05 per cent, to Rs 202.90 per kg in a business turnover of 1,822 lots, copper contracts traded higher by Rs 6.10, or 0.77 per cent, at Rs 793.35 per kg in a business turnover of 4,285 lots.

Globally, silver was trading 0.07 per cent up at $27.51 per ounce and gold traded 0.08 per cent lower at $1,836.10 an ounce in New York.

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