Yellow and White Metal Tumble Down on Fragile World Signs

February 26 04:25 2014

silverNew Delhi, Wednesday, February 26 – Rates of yellow metal tumbled down by 0.34 percent to INR 30,137 per ten gram in futures deal on Wednesday as soon as opponents sold limited positions, following a feeble trend in a foreign country as physical requirement plunged.

The yellow metal for delivery during the first month of upcoming quarter fell by INR 103, or 0.34%, to INR 30,137 per ten gram in business turnover of 1,205 lots at the Multi Commodity Exchange. In the same way, gold for delivery in the final month of next quarter dropped by INR 88, or 0.30 percent, to INR 29,527 each 10 gram in 16 lots.

More than a few forecasters stated that a feeble style in the abroad markets as a result of quiet physical requirement at advanced levels put pressure for the most part on the rates of precious metal in futures deal at this juncture. Internationally, the yellow metal on Wednesday skidded from $1,340.64 of Tuesday to $1,338.70 per ounce in Singapore.

Following the same trend, rates of the white metal also slipped by 0.35 percent to INR 47,650 each kilogram in futures deal on February 26 for the reason that contributors gave way to decrease exposures, taking feeble signals from the worldwide market. More to the point, the white metal for delivery in the last month of present quarter lost footing by INR 167, or 0.35 %, to arrive at INR 47,650 each kg in business turnover of 915 lots at the Multi Commodity Exchange.