Now Reading: Gold, silver futures fall on reduced bets and weak demand
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Gold, silver futures fall on reduced bets and weak demand
Silver futures fell by Rs 903 to Rs 2,43,317 per kg on the Multi Commodity Exchange on Tuesday, as participants cut their bets, analysts told PTI. The September contracts recorded a turnover of 1,702 lots. Globally, silver was trading 1.04% lower at $68.22 per ounce in New York.
Gold futures also declined, dropping Rs 120 to Rs 1,63,109 per 10 grams for October delivery, with a turnover of 1,595 lots. Analysts cited weaker spot demand for the fall. Globally, gold futures fell 0.23% to $4,641.42 per ounce.
On a contrasting note, Deccan Herald reported that gold futures rose Rs 115 to Rs 1,62,997 per 10 grams on Wednesday, driven by fresh speculative positions on firm spot demand. The outlet noted that gold globally fell 0.30% to $4,643.42 per ounce. The reports differ on the day's price direction, with Businessline and PTI covering a Tuesday decline and Deccan Herald a Wednesday rise.
Indian Opinion Analysis
All three sources are neutral wire or agency-style reports, showing no editorial slant. The apparent contradiction in gold prices arises from different reporting days: Businessline/PTI covered Tuesday's fall, while Deccan Herald covered Wednesday's rise. The key market driver across both reports is the divergence between domestic demand, which supported prices on Wednesday, and global cues, which remained weak. Investors should watch whether the domestic premium persists as global rates move.
Coverage: 3 sources, 3 neutral
Sources (3): thehindubusinessline.com (neutral report), thehindubusinessline.com (2) (neutral report), deccanherald.com (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Updated: this story now draws on 3 sources.
