Futures fall as speculators offloading

Gold futures fell by Rs191 to Rs59,125 per 10 grams as speculators reduced their positions. Silver futures fell by Rs268 to Rs75,700 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower by Rs191 or 0.32 per cent to Rs59,125 per 10 grams in a business turnover of 8,934 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.44 per cent lower at $1,955.70 per ounce in New York. On MCX, silver contracts for September delivery declined by Rs268 or 0.35 per cent to Rs75,700 per kg in a business turnover of 19,076 lots. Globally, silver was trading 0.45 per cent lower at $25.08 per ounce in New York.