Mumbai - Precious metals traded lower in the opening session of trade on Multi Commodity Exchange today on weak global cues. Profit booking at upper levels boosted by weakening of dollar against euro remained responsible for decline on both domestic and overseas bourses.
As per traders, fund buying at lower levels on the back drop of continuous financial turmoil had supported precious metals in near-term but todays profit booking has suppressed prices so far. On MCX gold April and silver march delivery were seen down by Rs. 41 and Rs. 128 respectively.
MCX most active gold April contract opened up down Rs 25 at Rs 14,604/10gm. The contract saw movement between Rs 14,580 and Rs 14,614/10gm. At 10.19 am IST, the contract traded lower by Rs. 41 at Rs 14,588/10gm. Total volumes in April contract recorded 819 lots.MCX gold mini the most active March contract opened down by Rs. 30 at Rs.14,615 /10gm. The contract saw movement between Rs. 14,587 and Rs. 14,630/10 gm. At 10.19 am IST, March contract traded down by Rs. 39 at Rs. 14,606/10 gm. Total volumes in March contract recorded 1214 lots.MCX benchmark silver March contract opened lower by Rs. 94 at Rs 21,260/kg. The contract fluctuated between Rs 21,225 and Rs 21, 280/kg. At 10.20 am IST, silver March contract traded lower by Rs. 128 at Rs 21,226/kg. Total volumes in March contract recorded 623 lots.MCX silver mini February contract opened down by Rs. 39 at Rs. 21, 310/kg. The contract saw the movement between Rs. 21,217 and Rs.21,310/kg. At 10.21 am IST, silver Mini February contract traded lower by Rs. 111 at Rs. 21,238/kg. Total volumes in February contract recorded 1054 lots.