New Delhi, Apr 28: Gold prices have started declining from last week and the trend seems to continue this week as well. Gold on MCX has been weakening since the last four trading session while Silver too has seen downwards slide.
Gold prices on MCX fell by Rs 57 to Rs 47,405 per 10 gram in futures trade on Tuesday as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold contracts for June delivery traded lower by Rs 57, or 0.12 per cent, at Rs 47,405 per 10 gram in a business turnover of 10,887 lots. Analysts attributed the fall in gold prices to trimming of positions by participants, a PTI report quoted.
Sold held steady on Tuesday as market awaits a U.S. Federal Reserve meeting for cues on its monetary policy outlook, while a firmer dollar weighed on the metal`s appeal. Spot gold was flat at $1,780.86 per ounce by 0724 GMT. U.S. gold futures were little changed at $1,780.70 per ounce. Silver fell 0.2% to $26.17 per ounce. Platinum was down 0.3% at $1,240.01, said Reuters report.
