Futures fall on easing speculation
image for illustrative purpose
Gold price fell by Rs292 to Rs60,478 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell by Rs865 to Rs71,252 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs292 or 0.48 per cent at Rs60,478 per 10 grams in a business turnover of 13,539 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.65 per cent lower at $1,975.70 per ounce in New York.
On MCX, silver contracts for December delivery declined by Rs865 or 1.2 per cent to Rs71,252 per kg in a business turnover of 19,828 lots. Globally, silver was trading 1.76 per cent lower at $22.83 per ounce in New York.
