Futures in red on easing speculation
image for illustrative purpose
Gold futures declined Rs222 to Rs71,612 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs516 to Rs91,054 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower Rs222 or 0.31 per cent at Rs71,612 per 10 grams in a business turnover of 16,8694 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.06 per cent lower at $2,344.30 per ounce in New York.
On MCX, silver contracts for July delivery declined Rs516 or 0.56 per cent to Rs91,054 per kg in a business turnover of 24,391 lots. Globally, silver was trading 0.33 per cent higher at $30.34 per ounce in New York.
