Futures reeling under pressure
image for illustrative purpose
Gold futures fell Rs13 to Rs60,700 per 10 grams in futures trade as speculators reduced their positions. Silver prices fell Rs320 to Rs72,820 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded marginally lower by Rs13 or 0.02 per cent at Rs60,700 per 10 grams in a business turnover of 8,036 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 $1,980.80 per ounce in New York.
On MCX, silver contracts for December delivery declined by Rs320 or 0.44 per cent to Rs72,820 per kg in a business turnover of 15,706 lots. Globally, silver was trading 0.83 per cent lower at $24 per ounce in New York.
