Futures fall as speculators continue to offload positions

Gold futures fell by Rs15 to Rs59,228 per 10 grams as speculators reduced their positions. Silver futures dropped Rs165 to Rs73,280 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs15 or 0.03 per cent to Rs59,228 per 10 grams in a business turnover of 12,028 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.10 per cent lower at $1,950.70 per ounce in New York.