Gold and Silver Futures Prices Dip Amid Muted Demand

Gold and silver futures prices dipped marginally on Thursday amid muted spot demand. On the Multi Commodity Exchange, gold contracts for October delivery traded at Rs 1,59,650 per 10 grams, down by Rs 13 or 0.01 per cent in a business turnover of 9,291 lots.

The decline in precious metal prices was attributed to weaker spot demand, analysts said. Earlier in the session, gold futures dropped as much as Rs 2,971 to a low of Rs 1,56,692 per 10 grams from the previous close of Rs 1,59,663.

Silver prices were nearly flat at Rs 2,39,607 per kilogram in futures trade on Thursday. Silver contracts for September delivery declined by Rs 31 or 0.01 per cent to Rs 2,39,607 per kg in a business turnover of 6,876 lots.