Futures reeling under pressure
image for illustrative purpose
Gold futures fell Rs195 to Rs59,790 per 10 gram as speculators reduced their positions. Silver futures fell Rs270 to Rs71,686 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower by Rs195 or 0.33 per cent at Rs59,790 per 10 grams in a business turnover of 14,577 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.48 per cent lower at $1,972 per ounce in New York. On MCX, silver contracts for July delivery declined Rs270 or 0.38 per cent to Rs71,686 per kg in a business turnover of 13,853 lots. Globally, silver was trading 0.53 per cent lower at $23.55 per ounce in New York.
