Speculators trim positions in futures

Gold futures declined Rs224 to Rs73,045 per 10 grams as speculators reduced their positions. Silver futures fell Rs653 to Rs92,456 per kilogram as participants reduced their bets.

On Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower Rs224 or 0.31 per cent at Rs73,045 per 10 grams in a business turnover of 12,021 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.57 per cent lower at $2,406.80 per ounce in New York.