Futures continue to fall
image for illustrative purpose
Gold futures fell by Rs377 to Rs59,864 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell by Rs1,273 to Rs71,460 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded lower by Rs377 or 0.63 per cent at Rs59,864 per 10 grams in a business turnover of 9,148 lots.
Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.92 per cent lower at $1,977.40 per ounce in New York. On MCX, silver contracts for July delivery declined Rs1,273 or 1.75 per cent to Rs71,460 per kg in a business turnover of 14,243 lots. Globally, silver was trading 1.95 per cent lower at $23.40 per ounce in New York.
