Futures slip as speculators offloading positions
Gold futures fell by Rs21 to Rs58,798 per 10 grams as speculators reduced their positions. Silver futures dropped Rs447 to Rs73,557 per kilogram as participants reduced their bets. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs21 or 0.04 per cent to Rs58,798 per 10 grams in a business turnover of 12,469 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.05 per cent higher at $1,949 per ounce in New York.
On MCX, silver contracts for September delivery declined by Rs447 or 0.6 per cent to Rs73,557 per kg in a business turnover of 8,266 lots. Globally, silver was trading 0.69 per cent lower at $24.54 per ounce in New York.