Futures fall as speculators trim positions
image for illustrative purpose
New Delhi: Gold futures on Monday fell Rs174 to Rs60,846 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell by Rs34 to Rs72,218 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs174 or 0.29 per cent at Rs60,846 per 10 grams in a business turnover of 13,979 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 $1,990.40 per ounce in New York.
On MCX, silver contracts for December delivery declined by Rs34 or 0.05 per cent to Rs72,218 per kg in a business turnover of 18,518 lots. Globally, silver was trading 0.26 per cent lower at $23.23 per ounce in New York.
