Futures back under pressure
image for illustrative purpose
Gold futures fell by Rs220 to Rs60,807 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell by Rs 532 to Rs 72,870 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded lower by Rs 220 or 0.36 per cent at Rs60,807 per 10 gram in a business turnover of 12,441 lots.
Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.50 per cent lower at $2,012.50 per ounce in New York. On MCX, silver contracts for July delivery declined Rs532 or 0.72 per cent to Rs72,870 per kg in a business turnover of 15,356 lots. Globally, silver was trading 0.99 per cent lower at $24.05 per ounce in New York.
