Gold falls Rs 216, silver edges up by Rs 200

New Delhi: Gold prices slipped by Rs 216 to Rs 51,279 per 10 grams in the national capital on Wednesday on the back of a decline in the precious metal's prices overseas and rupee appreciation.

Gold futures on Wednesday fell by Rs178 to Rs51,386 per 10 grams in futures trade as participants cut down their bets amid a weak global trend. Silver futures declined by Rs287 to Rs68,038 per kilogram as participants reduced their bets on low demand.

On the Multi Commodity Exchange, gold contracts for April delivery declined by Rs 178 or 0.35 per cent to Rs 51,386 per 10 grams in a business turnover of 8,651 lots. Analysts attributed the fall in prices to trimming of positions by investors tracking a weak trend in international market. Globally, gold was trading 0.53 per cent lower at $1,919.50 per ounce in New York. On the Multi Commodity Exchange (MCX), silver contracts for May delivery tumbled by Rs 287 or 0.42 per cent to Rs 68,038 per kg in a business turnover of 6,150 lots. Globally, silver fell 0.35 per cent to $25.07 per ounce in New York.

Brent crude trading at $102.69/bbl

Crude oil prices rose by Rs152 to Rs7,533 per barrel as participants widened their positions on a firm spot demand. Globally, West Texas Intermediate crude oil was up by 2.13 per cent at $98.49 per barrel, while Brent crude traded 2.78 per cent higher at $102.69 per barrel in New York.

On MCX, crude oil for March delivery traded higher by Rs152 or 2.06 per cent to Rs7,533 per barrel in 3,944 lots. Analysts said raising of bets by participants kept crude oil prices higher in futures trade.