Precious metals going down; Weighing profits.

Mumbai - Gold, Silver futures traded lower on Multi Commodity Exchange on profit taking from higher level and weak global cues on Thursday. Precious metals settled higher in the previous session. Gold prices quoted down in the overseas market. In the international market gold traded down USD1.10 at USD1224.91/oz.

On MCX, gold August futures traded down Rs.109/10gm and silver July futures down Rs.51/kg.
MCX's most active gold August contract opened Rs.16 lower at Rs.18,621/10gm and moved between Rs.18,551-Rs.18,621/10gm. At 10.51 am IST, the contract traded Rs.109 lower at Rs.18,565/10gm. August contract volumes clocked 3520 lots.



MCX gold mini, the most active July contract opened down Rs.21 at Rs.18,610/10gm. It fluctuated between Rs.18,546-18,610/10gm. At 10.55 am IST, June contract traded down Rs.75 at Rs.18,556/10gm. Total volumes in July contract clocked 5288 lots.

Benchmark silver July contract opened Rs.15 lower at Rs.29,216/kg. The contract fluctuated between Rs.29,111-Rs.29,274/kg. At 10.55 am IST, silver July contract traded down Rs.51 at Rs.29,180/kg. Total volumes clocked 2526 lots.

MCX silver mini June futures opened down Rs.39 at Rs.29,190/kg and moved between Rs.29,111-Rs.29,285/kg. At 10.56 am mini silver June futures traded down Rs.51 at Rs.29,178/kg. Total volumes recorded 3555 lots.