Bullion futures decline amid geopolitical uncertainty

Gold prices declined Rs 2,260 to Rs 1.37 lakh per 10 grams in futures trade on Tuesday, marking their decline for the fifth straight session amid uncertainty over geopolitical developments in West Asia.

On the Multi Commodity Exchange (MCX), the yellow metal for April delivery decreased by Rs 2,260, or 1.62 per cent, to Rs 1,37,000 per 10 grams.

Analysts said the precious metal prices remained under pressure due to conflicting statements surrounding tensions in West Asia.

Silver prices remained under heavy selling pressure for the 10th straight session declining by Rs 9,467 to Rs 2.15 lakh per kilogram in futures trade on Tuesday amid heightened volatility and weak global cues.

On the Multi Commodity Exchange (MCX), the white metal for May delivery slumped by Rs 9,467, or 4.2 per cent, to Rs 2,15,700 per kilogram.