Futures fall as speculators trim positions
image for illustrative purpose
Gold futures declined Rs233 to Rs61,271 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs429 to Rs69,210 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded lower Rs233 or 0.07 per cent at Rs61,271 per 10 grams in a business turnover of 13,632 lots. Analysts attributed the fall in gold prices to weak global cues. Globally, gold was trading 0.41 per cent lower at $1,998 per ounce in New York.
On MCX, silver contracts for March delivery declined Rs429 or 0.62 per cent to Rs69,210 per kg in a business turnover of 31,691 lots. Globally, silver was trading 0.60 per cent lower at $22.02 per ounce in New York.
