India's Gold and Silver Futures Stall Amid Weak Demand

Gold futures traded flat in India on Thursday, hovering around Rs 1,59,650 per 10 grams due to muted spot demand. Analysts pointed out that weaker market conditions contributed to this stability. However, globally, gold futures edged up by 0.23% to $4,601.64 per ounce in New York.

Silver prices also remained nearly flat at Rs 2,39,607 per kilogram in futures trade on Thursday as participants reduced their bets. Analysts attributed the decline in silver prices to a sell-off by participants mainly weighing on market sentiment. Globally, the white metal was trading 0.35% lower at $68.35 per ounce in New York.

Crude oil price fell by Rs 126 to Rs 7,771 per barrel in futures trade on Thursday amid weak global trends. Analysts said the prices fell after participants offloaded their holdings due to weak demand in the spot market. Globally, West Texas Intermediate crude fell 1.33% to $81.14 per barrel, while Brent crude declined 1.17% to $86.81 per barrel in New York.