Futures Turn Sluggish As Speculation Eases

Gold futures declined Rs813 to Rs76,315 per 10 grams in futures trade amid weak global cues. Silver futures plummet Rs1,224 to Rs89,985 per kilogram as participants reduced their bets.

On Multi Commodity Exchange (MCX), gold contracts for February delivery traded lower by Rs813 or 1.05 per cent at Rs76,315 per 10 grams in a business turnover of 12,349 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold futures decreased by 0.79 per cent to $2,622.27 per ounce in New York. On MCX, silver contracts for March delivery declined Rs1,224 or 1.34 per cent to Rs89,985 per kg in a business turnover of 26,137 lots.