Futures fall as speculators trim positions
image for illustrative purpose
Gold futures declined Rs136 to Rs62,599 per 10 grams as speculators reduced their positions. Silver futures fell Rs533 to Rs71,714 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded lower Rs136 or 0.22 per cent at Rs62,599 per 10 grams in a business turnover of 15,472 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.32 per cent lower at $2,060.70 per ounce in New York.
On MCX, silver contracts for March delivery declined by Rs533 or 0.74 per cent to Rs71,714 per kg in a business turnover of 24,353 lots. Globally, silver was trading 0.71 per cent lower at $23.01 per ounce in New York.
