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Precious Metals: Gold rises, silver slumps in futures trade

Gold prices on Thursday gained by Rs 16 to Rs 39,929 per 10 gram in futures trade.

PTI|
Last Updated: Jan 23, 2020, 03.30 PM IST
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Silver futures on Thursday plunged by Rs 232 to Rs 46,001 per kg.
Gold prices on Thursday gained by Rs 16 to Rs 39,929 per 10 gram in futures trade as speculators widened their bets in line with positive overseas trend.

On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 16, or 0.04 per cent, to Rs 39,929 per 10 gram in a business turnover of 1,707 lots.

Fresh positions built up by participants taking positive cues from global markets mostly led to rise in gold prices, analysts said.

Globally, gold prices rose 0.02 per cent to $1,577 per ounce in New York.

Silver

Silver futures on Thursday plunged by Rs 232 to Rs 46,001 per kg as participants cut down their bets taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for March delivery tumbled Rs 232, or 0.50 per cent, to Rs 46,001 per kg in a business turnover of 4,057 lots.

Besides, the white metal to be delivered in May fell by Rs 120, or 0.29 per cent, to Rs 46,550 per kg in 32 lots.

In the international market, silver prices traded 0.55 per cent lower at $17.73 an ounce in New York.

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