Futures further fall on bleak demand
image for illustrative purpose
Gold futures fell Rs7 to Rs59,464 per 10 grams in futures trade as speculators reduced their positions. Silver futures dropped Rs615 to Rs72,345 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs7 or 0.01 per cent to Rs59,464 per 10 grams in a business turnover of 15,032 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.20 per cent lower at $1,971 per ounce in New York.
On the MCX, silver contracts for September delivery declined by Rs615 or 0.84 per cent to Rs72,345 per kg in a business turnover of 15,352 lots. Globally, silver was trading 0.87 per cent lower at $23.67 per ounce in New York.
