Futures turn sluggish
image for illustrative purpose
Gold futures fell Rs195 to Rs61,997 per 10 grams as speculators reduced their positions. Silver futures declined Rs173 to Rs74,352 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded lower by Rs195 or 0.31 per cent at Rs61,997 per 10 grams in a business turnover of 14,728 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.04 per cent lower at $2,034.80 per ounce in New York.
On MCX, silver contracts for March delivery fell by Rs173 or 0.23 per cent to Rs74,352 per kg in a business turnover of 13,659 lots. Globally, silver was trading 0.05 per cent higher at $24.17 per ounce in New York.
