Bullion prices rise on renewed risk appetite
Gold futures fell by Re1 to Rs58,772 per 10 grams as speculators reduced their positions. Silver futures increased by Rs72 to Rs71,189 per kilogram as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded lower by Re 1 to Rs58,772 per 10 grams in a business turnover of 10,326 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants. Gold was trading 0.19 per cent higher at $1,940.70 per ounce in New York.
On MCX, silver contracts for September delivery gained Rs72 or 0.1 per cent to Rs71,189 per kg in 11,899 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend. Globally, silver was trading 0.17 per cent higher at $23.32 per ounce in New York.
