On Thursday, gold prices remained weak due to muted global rates. According to Live Mint, on MCX, prices of gold futures contracts were flat at Rs 38,169 per 10 gram. Despite the recent uptick, gold still remains down about Rs 1,800 per 10 gram from September highs of about Rs 40,000 per 10 gram. Tracking gold, silver also remained flat, with prices on MCX up 0.01% to Rs 44,825 per kg.
On Wednesday, gold rose by Rs 296 to Rs 39,194 per 10 gram in the national capital on weaker rupee and rally in international prices. The yellow metal had closed at Rs 38,898 per 10 gram on Tuesday. Silver prices also jumped Rs 331 to Rs 46,103 per kg from Rs 45,772 per kg in the previous trade.
On the Multi Commodity Exchange, gold contracts for December delivery traded lower by Rs 37, or 0.10 per cent, at Rs 38,168 per 10 gram in a business turnover of 1,647 lots. Similarly, the metal for delivery in February was down by Rs 58 to Rs 38,173 per 10 gram in 201 lots. Analysts attributed the fall in gold prices to trimming of positions by participants. Globally, gold traded 0.11 per cent higher at USD 1,475.90 an ounce in New York.
(Inputs from Agencies)
