Futures decline on easing speculation
image for illustrative purpose
Gold futures fell Rs683 to Rs56,917 per 10 grams as speculators reduced their positions. Silver futures fell Rs2,733 to Rs67,124 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs683 or 1.19 per cent at Rs56,917 per 10 grams in a business turnover of 15,616 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.36 per cent lower at $1,840.50 per ounce in New York.
On MCX, silver contracts for December delivery declined by Rs2,733 or 3.91 per cent to Rs67,124 per kg in a business turnover of 27,818 lots. Globally, silver was trading 0.89 per cent lower at $21.23 per ounce in New York.
