Futures fall as participants trim positions

New Delhi: Gold prices on Friday fell by Rs79 to Rs59,353 per 10 grams in futures trade as speculators reduced their positions. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs79 or 0.13 per cent to Rs59,353 per 10 grams in a business turnover of 14,882 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.05 per cent lower at $1,967.80 per ounce in New York. Silver futures on Friday dropped Rs418 to Rs72,104 per kilogram as participants reduced their bets.