Futures in divergent trading
image for illustrative purpose
Gold futures fell Rs10 to Rs56,711 per 10 grams as speculators reduced their positions. Silver futures jumped Rs329 to Rs67,214 per kilogram as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs10 or 0.16 per cent at Rs56,711 per 10 grams in a business turnover of 16,193 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.01 per cent lower at $1,834.90 per ounce in New York.
On MCX, silver contracts for December delivery gained Rs329 or 0.49 per cent to Rs67,214 per kg in 29,667 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 0.54 per cent higher at $21.26 per ounce in New York.
