Futures back in red

Gold futures declined Rs157 to Rs72,031 per 10 grams in futures trade amid weak global cues. Silver prices plunged Rs157 to Rs84,715 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs157 to Rs72,031 per 10 grams in a business turnover of 16,538 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold prices went down by 0.27 per cent to $2,553.50 per ounce in New York On MCX, silver contracts for September delivery declined by Rs157 or 0.18 per cent to Rs84,715 per kg in a business turnover of 5,514 lots. Globally, silver was trading 0.26 per cent lower at $29.91 per ounce in New York.