Futures reeling under pressure

Gold futures declined Rs111 to Rs71,490 per 10 grams in futures trade amid weak global cues. Silver futures plunged Rs391 to Rs84,163 per kilogram as participants reduced their bets. On Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs111 or 0.16 per cent to Rs71,490 per 10 grams in a business turnover of 15,956 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold prices went down by 0.20 per cent to $2,494.45 per ounce in New York.