Futures turn sluggish
image for illustrative purpose
Gold futures fell Rs189 to Rs58,022 per 10 grams as speculators reduced their positions. Silver futures fell Rs183 to Rs69,847 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower by Rs189 or 0.32 per cent to Rs58,022 per 10 grams in a business turnover of 11,709 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Gold was trading 0.46 per cent lower at $1,920.50 per ounce in New York.
On MCX, silver contracts for September delivery declined Rs183 or 0.26 per cent to Rs69,847 per kg in a business turnover of 12,444 lots. Globally, silver was trading 0.35 per cent lower at $22.94 per ounce in New York.
