Futures fall as speculators trim bets
image for illustrative purpose
Gold futures declined Rs71 to Rs65,951 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs330 to Rs74,593 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded lower Rs71 or 0.11 per cent at Rs65,951 per 10 grams in a business turnover of 7,016 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.19 per cent lower at $2,194 per ounce in New York.
On MCX, silver contracts for May delivery declined Rs330 or 0.44 per cent to Rs74,593 per kg in a business turnover of 23,760 lots. Globally, silver was trading 0.63 per cent lower at $24.74 per ounce in New York.
