Gold prices witnessed profit booking in the last one week, falling by Rs 1,700/ 10 grams in the last one week as Gold April futures contracts at MCX today touched an intraday low of Rs 84511 per 10 gram. The April futures were, however, up by 0.47% or Rs 397 on a daily time frame, around 9:45 am, Meanwhile silver March futures contracts have also fallen by Rs 1,700/kg and were trading at Rs 93,375/kg at the same time today.
On Friday, gold and silver settled on a weaker note in the domestic and international markets. Gold April futures contract settled at Rs 84,219 per 10 grams with a loss of 1.15% and silver May futures contract settled at Rs 94,328 per kilogram with a loss of 1.28%.Gold and silver showed a very heavy sell-off last week. Gold lost an 8-week winning streak and slipped to 3-week low and silver prices also slipped to 1-month lows amid a rebound in the dollar index.
