Futures fall as speculators continue to offload positions
image for illustrative purpose
Gold futures fell by Rs44 to Rs58,549 per 10 gram as speculators reduced their positions. Silver futures fell Rs295 to Rs71,124 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs44, or 0.08 per cent, at Rs58,549 per 10 gram in a business turnover of 11,086 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.08 per cent lower at $1,930.90 per ounce in New York. On MCX, silver contracts for December delivery declined by Rs295, or 0.41 per cent, to Rs71,124 per kg in a business turnover of 18,442 lots. Globally, silver was trading 0.52 per cent lower at $23.06 per ounce in New York.
