Futures decline after fed decision

Gold prices declined Rs 612 to Rs 1,09,210 per 10 grams in domestic futures trade as speculators cut positions following a firm recovery in the dollar after the US Federal Reserve’s cautious policy stance dampened bullion’s rally. Gold futures for October delivery depreciated 0.56 per cent.

The December contract also diminished Rs 566 or 0.51 per cent to Rs 1,10,300 per 10 grams. Silver prices weakened too.

The white metal futures for December delivery slipped Rs 604 or 0.48 per cent to Rs 1,26,380 per kilogram, while the March next year contract fell Rs 630 or 0.49 per cent to Rs 1,27,985 per kg.

Globally, gold futures for December delivery dropped $28.05 or 0.75 per cent to $3,689.75 per ounce after hitting a record $3,744 in the previous session. Silver futures were down 1.05 per cent at $41.71 per ounce, retreating from a 14-year high of $43.43 earlier this week.