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Futures fall on low demand
image for illustrative purpose
Gold prices on Friday fell by Rs78 to Rs58,733 per 10 gram in futures trade as speculators reduced their positions.
On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs78 or 0.13 per cent to Rs58,733 per 10 gram in a business turnover of 12,510 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.31 per cent lower at $1,941.10 per ounce in New York. Silver futures on Friday dropped Rs138 to Rs73,430 per kilogram as participants reduced their bets.
