Futures in divergent trading

Gold futures fell Rs94 to Rs58,189 per 10 grams as speculators reduced their positions. However, Silver futures jumped Rs207 to Rs70,756 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 Rs94 or 0.16 per cent at Rs58,189 per 10 grams in a business turnover of 14,708 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.04 per cent lower at $1,891.60 per ounce in New York. On MCX, silver contracts for December delivery gained Rs207 or 0.29 per cent to Rs70,756 per kg in 23,139 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 0.20 per cent higher at $22.77 per ounce in New York.