Futures fall as speculators trim bets

Gold futures declined Rs68 to Rs65,540 per 10 grams as speculators reduced their positions. Silver futures fell Rs176 to Rs75,320 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded lower Rs68 or 0.1 per cent at Rs65,540 per 10 grams in a business turnover of 13,045 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.24 per cent lower at $2,159.10 per ounce in New York.

On MCX, silver contracts for May delivery declined Rs176 or 0.23 per cent to Rs75,320 per kg in a business turnover of 25,948 lots. Globally, silver was trading 0.32 per cent lower at $25.19 per ounce in New York.