Futures fall as speculators slash positions
image for illustrative purpose
Gold futures fell Rs183 to Rs59,425 per 10 gram as speculators reduced their positions. Silver futures fell Rs356 to Rs71,664 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower by Rs183 or 0.31 per cent at Rs59,425 per 10 grams in a business turnover of 14,530 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.72 per cent lower at $1,955.50 per ounce in New York. On the MCX, silver contracts for July delivery declined Rs356 or 0.49 per cent to Rs71,664 per kg in a business turnover of 13,385 lots. Globally, silver was trading 0.72 per cent lower at $23.58 per ounce in New York.
