Gold futures fall Rs 102 to Rs 40,140 per 10 gm

Gold prices on Wednesday fell by Rs 102 to Rs 40,140 per 10 gram in futures trade as participants cut down their positions in line with a weak trend overseas. On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 102, or 0.25 per cent, to Rs 40,140 per 10 gram in a business turnover of 1,862 lots.

The yellow metal for April delivery slumped Rs 128, or 0.32 per cent, to Rs 40,245 per 10 gram in 919 lots.

Analysts said subdued overseas cues influenced sentiments here.

Globally, gold was trading 0.26 per cent lower at USD 1,571.70 an ounce in New York.

Silver futures marginally up on spot demand

Silver prices on Wednesday rose by Rs 11 to Rs 45,485 per kg in futures trade as participants widened their bets amid a firm trend in precious metal overseas.

On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 11, or 0.02 per cent, to Rs 45,485 per kg in 2,906 lots.

Similarly, the white metal for delivery in May was trading higher by Rs 24, or 0.05 per cent, to Rs 46,064 per kg in 141 lots.

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Traders said fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures.

In the international market, silver was up 0.01 per cent at USD 17.46 an ounce in New York.