Divergent trading in futures continues
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Gold futures fell Rs17 to Rs60,935 per 10 grams as speculators reduced their positions. On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs17 or 0.03 per cent at Rs60,935 per 10 grams in a business turnover of 14,753 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.07 per cent lower at $1,996.00 per ounce in New York.
Silver price rose Rs36 to Rs71,616 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On MCX, silver contracts for December delivery increased Rs36 or 0.05 per cent to Rs71,616 per kg in 19,339 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend.
