Futures fall as speculators trim positions
image for illustrative purpose
Gold futures fell by Rs113 to Rs58,588 per 10 grams as speculators reduced their positions. Silver futures fell Rs435 to Rs71,715 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs113 or 0.19 per cent at Rs58,588 per 10 grams in a business turnover of 5,008 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.35 per cent lower at $1,929.80 per ounce in New York.
On MCX, silver contracts for December delivery declined by Rs435 or 0.6 per cent to Rs71,715 per kg in a business turnover of 18,418 lots. Globally, silver was trading 1.18 per cent lower at $23.11 per ounce in New York.
