Gold futures drop to Rs 1,52,350/10g, Silver to Rs 2,43,819/kg

On the Multi Commodity Exchange, gold contracts for the June delivery traded lower by Rs 349, or 0.23%, at Rs 1,52,350 per 10 grams in a business turnover of 1,119 lots.

New Delhi: Gold prices on Monday dropped Rs 349 to Rs 1,52,350 per 10 grams in futures trade amid a fall in spot demand.

On the Multi Commodity Exchange, gold contracts for the June delivery traded lower by Rs 349, or 0.23 per cent, at Rs 1,52,350 per 10 grams in a business turnover of 1,119 lots.

Analysts attributed the fall in gold prices to weak global cues.

Globally, gold futures declined by 0.05 per cent to $4,711.98 per ounce in New York.

Silver prices fell by Rs 817 to Rs 2,43,819 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for the May delivery declined by Rs 817, or 0.33 per cent, to Rs 2,43,819 per kg in a business turnover of 1,098 lots.

Analysts said a sell-off by participants mainly weighed on silver prices.

Globally, silver was trading 0.29 per cent higher at $75.94 per ounce in New York.