Futures under pressure as speculators offload positions
image for illustrative purpose
Gold prices on Thursday fell Rs 55 to Rs 60,090 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs214 to Rs72,444 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded lower by Rs55 or 0.09 per cent at Rs60,090 per 10 grams in a business turnover of 11,473 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants.
Globally, gold was trading 0.23 per cent lower at $1,999.10 per ounce in New York. On the MCX, silver contracts for July delivery declined Rs214 or 0.29 per cent to Rs72,444 per kg in a business turnover of 15,142 lots. Globally, silver was trading 0.51 per cent lower at $ 23.78 per ounce in New York.
