Futures sluggish on easing speculation

Gold futures fell by Rs82 to Rs59,200 per 10 gram as speculators reduced their positions. Silver futures fell Rs73 to Rs72,496 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs82, or 0.14 per cent, at Rs59,200 per 10 gram in a business turnover of 8,850 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.022 per cent lower at $1,949.40 per ounce in New York.