Futures in red as speculators trim positions
image for illustrative purpose
Gold futures declined marginally by Rs2 to Rs71,498 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs86 to Rs82,410 per kilogram as participants reduced their bets.
On the MCX, gold contracts for June delivery traded marginally lower Rs 2 at Rs 71,498 per 10 grams in a business turnover of 19,417 lots. Analysts attributed the fall in gold prices to weak global cues and profit booking at higher level. Globally, gold was trading 0.12 per cent lower at $2,344.40 per ounce in New York.
On MCX, silver contracts for July delivery declined Rs86 or 0.1 per cent to Rs82,410 per kg in a business turnover of 21,562 lots. Globally, silver was trading 0.04 per cent higher at $27.55 per ounce in New York.
