Silver also declined by Rs 722 to Rs 67,515 per kg. Silver had closed at Rs 68,237 per kg in the previous trading session.
The price of silver
According to reports, the price of silver also fell by Rs 622 per kg to Rs 8,515. Silver had closed at Rs 68,237 per kg in the previous trading session. International gold prices fell to 1, 1,918 an ounce, while silver remained almost unchanged at 24 24.80 an ounce. Spot gold fell 0.25 percent to $ 1,918 an ounce on Tuesday on the New York-based Commodity Exchange Comcast, putting pressure on gold prices here, said Tapan Patel, HDFC Securities Research Analyst (commodity).
Gold futures fall
Traders have downgraded their position amid a weak global trend, with gold futures falling by Rs 347 per 10 grams to Rs 51,224 in futures trading on Tuesday. On the Multi Commodity Exchange, gold for delivery in April fell by Rs 347, or 0.67 per cent, to Rs 51,224 per 10 grams. It traded for 4,786 lots. Market analysts said that gold futures fell as a result of weakening investor positions following a weak trend in international markets. Globally, gold in New York fell 1.06 percent to USD 1,924.
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Silver futures fall
Silver futures fell by Rs 456 per kg to Rs 67,649 on Tuesday as traders reduced their position on weak spot demand. On the Multi Commodity Exchange, silver for delivery in May fell by Rs 456, or 0.67 per cent, to Rs 67,649 per kg. It traded for 6,002 lots. Globally, silver in New York fell 1.02 percent to .9 24.94 an ounce.
