Gold, silver prices edge down

New Delhi: Gold prices declined by Rs46 to Rs 52,357 per 10 grams in the national capital on Thursday in line with weak global trends.

In the previous trade, gold had finished at Rs 52,403 per 10 grams. Silver also declined by Rs 103 to Rs 67,968 per kg from Rs 68,071 per kg in the previous trade. In the international market, gold was trading lower at $1,949 per ounce and silver was flat at $25.03 per ounce. "Gold prices kept lower trading range on strong US bond yields despite a weaker dollar," Dilip Parmar, Retail Research Analyst, HDFC Securities

Gold futures fell by Rs154 to Rs52,474 per 10 grams in futures trade as speculators reduced their positions amid low demand. Silver futures tumbled by Rs 322 to Rs 68,084 per kg as participants reduced their bets on low demand.

On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded lower by Rs 154 or 0.29 per cent at Rs 52,474 per 10 grams in a business turnover of 16,934 lots. Analysts attributed the fall in gold prices to trimming of positions by participants. Globally, gold was trading 0.09 per cent lower at $1,953.90 an ounce in New York. On MCX, silver contracts for May delivery tumbled by Rs 322 or 0.47 per cent to Rs 68,084 per kg in a business turnover of 5,436 lots. Globally, silver was trading 0.71 per cent lower at USD 25.18 per ounce in New York.