Easing speculation puts futures in red

Gold futures fell Rs5 to Rs61,535 per 10 grams in futures trade as speculators reduced their positions. Silver futures fell Rs316 to Rs74,490 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded marginally lower by Rs5 or 0.01 per cent at Rs61,535 per 10 grams in a business turnover of 2,347 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.09 per cent higher at $2,034.80 per ounce in New York.