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Gold futures drop amid rising global concerns, Commodity Tips

In the midst of strengthening global trade war tensions, gold prices are on a downtrend in the international market on Tuesday.

The near-month August gold futures declined by over Rs 200 to a low of Rs 30,452 per ten grams on the MCX. Further, Silver futures for delivery in near-month July plunged by Rs 230 to a low of Rs 39,415 per kilogram. Spot prices for silver were up at Rs. 39,604 per kilogram, as per Multi Commodity Exchange data.

In line with analyst point of view, gold and silver prices are expected to stay slippery during the rest of Tuesday’s trade session.  MCX Gold August futures were on Monday ended with minor gains of about 45 points, but silver seen a fall of more than 150 points.

Gold futures for delivery in far-month Oct plunged nearly Rs 216/ten grams to a low of Rs 30,740 on the Commodity Exchange (MCX). Likewise, silver futures for delivery in far-month Sept fell by Rs 236 to an extent of Rs 40,050 per kg.

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