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Gold futures declined Rs99 to Rs69,700 per 10 grams in futures trade as speculators reduced their positions. Silver futures rose Rs675 to Rs79,686 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded lower Rs99 or 0.14 per cent at Rs69,700 per 10 grams in a business turnover of 24,408 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.10 per cent lower at $2,312.70 per ounce in New York.
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