Futures reeling under pressure
image for illustrative purpose
Gold futures slipped by Rs24 to Rs62,430 per 10 grams as speculators reduced their positions. Silver futures marginally fell by Rs18 to Rs75,058 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded lower by Rs24 or 0.04 per cent at Rs62,430 per 10 grams in a business turnover of 15,063 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.34 per cent lower at $2,051.80 per ounce in New York. P
On MCX, silver contracts for March delivery marginally declined by Rs18 or 0.02 per cent to Rs75,058 per kg in a business turnover of 14,032 lots. Globally, silver was trading 0.32 per cent higher at $24.45 per ounce in New York.
