Futures in divergent trading

Gold futures fell by Rs14 to Rs58,932 per 10 gram as speculators reduced their positions. Silver futures jumped Rs260 to Rs73,597 per kilogram as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs14 or 0.02 per cent at Rs58,932 per 10 gram in a business turnover of 6,317 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.10 per cent lower at $1,943.70 per ounce in New York.

On MCX, silver contracts for December delivery gained Rs260 or 0.35 per cent to Rs73,597 per kg in 15,221 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend. Globally, silver was trading 0.19 per cent higher at $23.89 per ounce in New York.