New Delhi: Gold and silver prices declined sharply in futures trading on Friday amid subdued demand and investors and traders reducing their positions in the market.
On the Multi Commodity Exchange (MCX), gold futures for December delivery fell by ₹2,178, or 1.51%, to ₹1,41,917 per 10 grams. A total of 2,152 lots were traded.
Silver prices also witnessed a decline. Silver futures for December delivery dropped by ₹3,534, or 1.89%, to ₹1,83,606 per kilogram. Market experts attributed the fall to selling by traders. A total of 3,221 silver contracts were traded on the MCX.
The decline was also reflected in international markets.
In New York, gold prices fell by 0.94% to $4,049.43 per ounce, while silver declined by 0.70% to $51.41 per ounce.
