Futures fall as speculators trim positions
image for illustrative purpose
Gold futures declined Rs247 to Rs62,315 per 10 grams as speculators reduced their positions. Silver futures fell Rs406 to Rs70,802 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded lower Rs247 or 0.39 per cent at Rs62,315 per 10 grams in a business turnover of 14,388 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.59 per cent lower at $2,041.60 per ounce in New York.
On the MCX, silver contracts for March delivery declined by Rs406 or 0.57 per cent to Rs70,802 per kg in a business turnover of 29,520 lots. Globally, silver was trading 0.86 per cent lower at $22.60 per ounce in New York.
