Gold futures fall on easing speculation
image for illustrative purpose
Gold price on Tuesday fell Rs20 to Rs61,260 per 10 grams in futures trade as speculators reduced their positions. Silver futures on Tuesday fell Rs 355 to Rs72,400 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded lower by Rs20 or 0.03 per cent at Rs61,260 per 10 grams in a business turnover of 14,903 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.04 per cent higher at $2,006.50 per ounce in New York.
On the MCX, silver contracts for December delivery declined by Rs355 or 0.49 per cent to Rs72,400 per kg in a business turnover of 17,466 lots. Globally, silver was trading 0.37 per cent lower at $23.31 per ounce in New York
