Speculators slash positions in futures
image for illustrative purpose
Gold futures fell Rs52 to Rs61,129 per 10 grams as speculators reduced their positions. Silver futures fell Rs207 to Rs71,655 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded lower by Rs52 or 0.08 per cent at Rs61,129 per 10 grams in a business turnover of 14,718 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.04 per cent higher at $1,993.90 per ounce in New York.
On MCX, silver contracts for March delivery declined by Rs207 or 0.29 per cent to Rs71,655 per kg in a business turnover of 19,173 lots. Globally, silver was trading 0.13 per cent lower at $22.99 per ounce in New York.
