Futures fall as speculators trim positions

Gold futures fell by Rs69 to Rs59,240 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell by Rs284 to Rs74,686 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower by Rs69 or 0.12 per cent to Rs59,240 per 10 grams in a business turnover of 6,513 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.03 per cent lower at $2,004.70 per ounce in New York.