Divergent trading in futures
Gold futures fell Rs55 to Rs62,585 per 10 grams in futures trade as speculators reduced their positions. Silver futures jumped Rs5 to Rs72,341 per kilogram as participants widened their bets on a firm spot demand
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Gold futures fell Rs55 to Rs62,585 per 10 grams in futures trade as speculators reduced their positions. Silver futures jumped Rs5 to Rs72,341 per kilogram as participants widened their bets on a firm spot demand.
On MCX, gold contracts for February delivery traded lower by Rs55 or 0.09 per cent at Rs62,585 per 10 grams in a business turnover of 12,876 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.03 per cent higher at $2,050.70 per ounce in New York.
On MCX, silver contracts for March delivery increased Rs5, or 0.01 per cent, to Rs72,341 per kg in 23,059 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 0.29 per cent higher at $23.26 per ounce in New York.
