Silver Sheds Rs 95 on Demand Slump, Gold Gains Rs 66

In the futures market, gold prices rose Rs 66 to Rs 47,661 per 10 gram on Friday, as speculators opened new positions in response to strong spot demand. Silver futures fell Rs 95 to Rs 71,586 per kg as traders hedged against weak demand.

Nickel prices rose 0.47 percent to Rs 1,333.60 per kg on Friday, as speculators established new positions in the spot market in response to increasing demand from alloy makers. Zinc prices rose 0.49 percent to Rs 233.65 per kg on Friday, owing to strong spot demand. Copper prices rose 0.77 percent to Rs 776.55 per kg on Friday, owing to an increase in spot demand. As speculators established new positions amid a positive trend in the spot market, aluminium prices rose 0.6 percent to Rs 201 per kg.

On the Multi Commodity Exchange, gold contracts for the June delivery traded higher by Rs 66, or 0.14 per cent, at Rs 47,661 per 10 gram in a business turnover of 10,320 lots, silver contracts for the July delivery tumbled by Rs 95, or 0.13 per cent, to Rs 71,586 per kg in a business turnover of 10,980 lots, nickel contracts for the May delivery gained Rs 6.20, or 0.47 per cent, to Rs 1,333.60 per kg in a business turnover of 1,765 lots, zinc contracts for the May delivery rose by Rs 1.15, or 0.49 per cent, to Rs 233.65 per kg in 2,080 lots, copper contracts for delivery in May traded higher by Rs 5.90, or 0.77 per cent, at Rs 776.55 per kg in a business turnover of 5,208 lots, aluminium contracts for the May delivery gained Rs 1.20, or 0.6 per cent, to Rs 201 per kg in a business turnover of 2,172 lots.



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