Futures decline on reduced bets

Gold prices dropped Rs 780 to Rs 1,57,975 per 10 grams in futures trade amid a fall in spot demand. Gold contracts for April delivery traded lower by 0.49 per cent in a business turnover of 960 lots.

Analysts attributed the fall in gold prices to weak global cues. Silver prices fell Rs 3,055 to Rs 2,59,963 per kilogram as participants reduced their bets.

Silver contracts for March delivery declined 0.28 per cent in a business turnover of 1,317 lots.