Silver swings: Slides 12.5k per kg in day
NEW DELHI: Silver prices declined sharply from record levels, plummeting Rs 12,500 to Rs 2,43,500 per kg, while gold receded by Rs 900 here on Thursday, amid a rush of profit-booking globally. According to the All India Sarafa Association, the white metal surged Rs 5,000 to touch a record high of Rs 2,56,000 per kg in the previous session on Wednesday. In the local bullion market, the price of gold of 99.9% purity decreased by Rs 900 to Rs 1,40,500 per 10 grams (inclusive of all taxes) compared to the previous close of Rs 1,41,400 per 10 grams. On the Multi Commodity Exchange (MCX), gold futures for Feb delivery decreased Rs 896, or 0.65%, to Rs 1,37,113 per 10 grams in a business turnover of 14,957 lots. Silver futures also witnessed heavy selling pressure on the MCX amid cautious positioning by traders. The white metal for the March contract tumbled by Rs 7,365, or 3%, to Rs 2,43,240 per kilogram in 12,295 lots. In the international market, gold futures on the Comex for Feb delivery slipped by $29.7, or 0.7%, to $4,432.8 per ounce.
