Gold futures fall as speculators slash positions

Gold futures fell Rs140 to Rs58,834 per 10 gram as speculators reduced their positions. On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded lower by Rs140 or 0.24 per cent to Rs58,834 per 10 grams in a business turnover of 13,649 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Globally, gold was trading 0.04 per cent higher at $1,936 per ounce in New York.