Gold futures decline as speculators slash positions

Gold futures fell by Rs43 to Rs58,332 per 10 gram as speculators reduced their positions. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs43 or 0.07 per cent to Rs58,332 per 10 grams in a business turnover of 13,148 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.08 per cent higher at $1,918 per ounce in New York.