Futures further fall as speculators trim positions

Gold futures declined Rs121 to Rs73,900 per 10 grams as speculators reduced their positions. Silver futures fell Rs204 to Rs94,521 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded lower Rs121 at Rs73,900 per 10 grams in a business turnover of 9,431 lots. Analysts attributed the fall in the precious metal price to weak global cues. Globally, gold was trading 0.33 per cent lower at $2,441 per ounce in New York.

On MCX, silver contracts for July delivery declined Rs204 or 0.22 per cent to Rs94,521 per kg in a business turnover of 27,527 lots. Globally, silver was trading 0.04 per cent lower at $32.07 per ounce in New York.