Futures reeling under pressure
image for illustrative purpose
Gold futures fell by Rs95 to Rs61,624 per 10 grams as speculators reduced their positions. Silver futures fell Rs118 to Rs72,400 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded lower by Rs95 or 0.15 per cent at Rs61,624 per 10 grams in a business turnover of 15,203 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.06 per cent lower at $2,013 per ounce in New York. On MCX, silver contracts for March delivery declined by Rs118 or 0.16 per cent to Rs72,400 per kg in a business turnover of 16,880 lots. Globally, silver was trading 0.21 per cent higher at $23.27 per ounce in New York.
