Futures fall as speculators trim positions
image for illustrative purpose
Gold futures fell Rs164 to Rs59,845 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs690 to Rs70,360 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs164 or 0.27 per cent at Rs59,845 per 10 grams in a business turnover of 12,212 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.33 per cent lower at $1,951.30 per ounce in New York.
On MCX, silver contracts for December delivery declined by Rs690 or 0.97 per cent to Rs70,360 per kg in a business turnover of 22,364 lots. Globally, silver was trading one per cent lower at $22.50 per ounce in New York.
