Weak global cues keep pressure on gold futures

Gold futures declined Rs171 to Rs71,210 per 10 grams in futures trade amid weak global cues. Silver futures plunged Rs451 to Rs82,801 per kilogram as participants reduced their bets. On Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs171 or 0.24 per cent to Rs71,210 per 10 grams in a business turnover of 15,466 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold prices went down by 0.24 per cent to $2,517 per ounce in New York.