Futures fall on easing speculation

Gold futures declined Rs166 to Rs71,843 per 10 grams as speculators reduced their positions. Silver futures fell Rs373 to Rs94,235 per kilogram as participants reduced their bets.

On the MCX, gold contracts for June delivery traded lower Rs166 at Rs71,843 per 10 grams in a business turnover of 4,742 lots. Analysts attributed the fall in the precious metal price to weak global cues. Globally, gold was trading 0.39 per cent higher at $2,366.10 per ounce in New York.

On MCX, silver contracts for July delivery declined Rs373 or 0.39 per cent to Rs94,235 per kg in a business turnover of 27,074 lots. Globally, silver was trading 3.89 per cent higher at $31.69 per ounce in New York.