Futures in divergent trading

Gold futures declined Rs5 to Rs73,097 per 10 grams as speculators reduced their positions. Silver futures climbed Rs168 to Rs87,033 per kilogram as participants widened their bets on a firm spot demand. On the MCX, gold contracts for June delivery traded lower Rs5 at Rs73,097 per 10 grams in a business turnover of 11,461 lots. Analysts attributed the fall in the precious metal price to weak global cues. Globally, gold was trading 0.13 per cent lower at $2,391.80 per ounce in New York.

On MCX, silver contracts for July delivery increased Rs168 or 0.19 per cent to Rs87,033 per kg in 29,388 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend. Globally, silver was trading lower 0.10 per cent at $29.70 per ounce in New York.