Futures Reeling Under Pressure

Gold futures declined Rs34 to Rs76,273 per 10 grams amid weak global cues. Silver futures fell Rs416 to Rs91,274 per kilogram as participants reduced their bets. On Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs34 or 0.04 per cent at Rs76,273 per 10 grams in a business turnover of 14,502 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold futures decreased 0.03 per cent to $2,675.60 per ounce in New York.

On MCX, silver contracts for December delivery declined Rs416 or 0.45 per cent to Rs91,274 per kg in a business turnover of 26,933 lots. Globally, silver was trading 0.50 per cent lower at $31.60 per ounce in New York.