Futures fall on low demand as participants reduced their bets
image for illustrative purpose
Gold prices on Friday fell by Rs195 to Rs 59,357 per 10 grams in futures trade as speculators reduced their positions. On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower by Rs195 or 0.33 per cent to Rs59,357 per 10 grams in a business turnover of 7,236 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.23 per cent lower at $2,005.20 per ounce in New York.
Silver futures on Friday fell by Rs369 to Rs75,080 per kilogram as participants reduced their bets. On MCX, silver contracts for September delivery declined by Rs369 or 0.49 per cent to Rs75,080 per kg in a business turnover of 18,692 lots. Globally, silver was trading 0.21 per cent lower at $24.91 per ounce in New York.
