Bullion futures trade lower on reduced bets

Gold prices dropped Rs 602 to Rs 1,52,050 per 10 grams in futures trade amid a fall in spot demand. Gold contracts for the June delivery traded lower 0.39 per cent in 1,491 lots.

Analysts attributed the fall in gold prices to weak global cues. Globally, gold futures declined by 0.40 per cent to $4,730.59 per ounce in New York.

Silver prices fell by Rs 4,495 to Rs 2,38,779 per kilogram as participants reduced their bets. Silver contracts for the May delivery declined 1.85 per cent in 1,528 lots.

Analysts said a sell-off by participants mainly weighed on silver prices. Globally, silver was trading flat at $75.33 per ounce in New York.