Futures back in divergent trading

Gold futures marginally declined Re1 to Rs71,583 per 10 grams amid weak global cues. Silver futures jumped Rs425 to Rs84,763 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Re1 to Rs71,583 per 10 grams in a business turnover of 17,375 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold prices went up by 0.05 per cent to $2,542.50 per ounce in New York.

On MCX, silver contracts for September delivery increased Rs425 or 0.5 per cent to Rs84,763 per kg in 23,316 lots.