Gold futures marginally declined Rs29 to Rs71,625 per 10 grams as speculators reduced their positions. Silver futures fell Rs70 to Rs89,680 per kilogram as participants reduced their bets. On Multi Commodity Exchange (MCX), gold contracts for August delivery traded marginally lower Rs29 or 0.04 per cent at Rs71,625 per 10 grams in a business turnover of 14,291 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.09 per cent lower at $2,336.80 per ounce in New York.
On MCX, silver contracts for September delivery declined by Rs70 or 0.08 per cent to Rs89,680 per kg in a business turnover of 23,667 lots. Globally, silver was trading 0.18 per cent lower at $29.56 per ounce in New York.