Futures retreat from record highs

Gold prices on Thursday eased from their record highs, plunging Rs 1,395 to Rs 1,05,800 per 10 grams in futures trade on the MCX as traders booked profits at higher levels amid a bearish sentiment in the global markets.

On the MCX, the most traded gold futures for October delivery declined Rs 1,395, or 1.30 per cent, to Rs 1,05,800 per 10 grams in the morning trade. It had rallied to hit an all-time high of Rs 1,07,226 per 10 grams.

Silver prices tumbled Rs 1,500 to Rs 1,24,374 per kilogram in the futures trade on the MCX as market participants cut down their bets, taking weak cues from international markets.

Extending the losses for the second consecutive session, the white metal futures dropped 1.19 per cent to Rs 1,24,374 per kg in a business turnover of 19,284 lots.