MCX Gold, Silver Updates


Both precious metals, gold and silver, witnessed major losses on Friday, falling by Rs 230 to Rs 20,400 per 10 grams and Rs 1,540 to Rs 42,850 per kg, respectively, due to heavy sell off by stockists on weak global cues, amid sluggish demand. Gold in global markets, which normally sets a price trend on the domestic front, dropped by $24.90 to $1345.60 an ounce and silver lost 4.52 per cent to $27.47 an ounce in New York last night.

On the domestic front, silver ready remained under heavy selling pressure from stockists and plunged by Rs 1,540 to Rs 42,850 per kg and weekly-based delivery by Rs 1,660 to Rs 42,445 per kg.


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