Futures fall as speculators slash positions

Gold futures fell Rs32 to Rs63,080 per 10 grams as speculators reduced their positions. Silver futures fell by Rs446 to Rs76,147 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded marginally lower by Rs32 or 0.05 per cent at Rs63,080 per 10 grams in a business turnover of 96 lots.

Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.22 per cent lower at $2,085 per ounce in New York. On MCX, silver contracts for December delivery declined by Rs446 or 0.58 per cent to Rs76,147 per kg in a business turnover of 174 lots. Globally, silver was trading 1.25 per cent lower at $25.54 per ounce in New York.