Gold remains flat; silver climbs Rs 450
Gold futures declined Rs85 to Rs61,900 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs141 to Rs71,728 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded lower Rs85 or 0.14 per cent at Rs61,900 per 10 grams in a business turnover of 4,753 lots. Analysts attributed the fall in gold prices to weak global cues.
Globally, gold was trading 0.06 per cent lower at $2,033.90 per ounce in New York. On MCX, silver contracts for March delivery declined Rs141 or 0.31 per cent to Rs71,728 per kg in a business turnover of 26,366 lots. Globally, silver was trading 0.16 per cent higher at $22.93 per ounce in New York.