Gold futures fall, silver recovers
Gold futures fell Rs4 to Rs62,601 per 10 grams as speculators reduced their positions. Silver futures climbed Rs158 to Rs75,930 per kilogram as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded marginally lower by Rs4 or 0.01 per cent at Rs62,601 per 10 grams in a business turnover of 199 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 $2,065 per ounce in New York.
On MCX, silver contracts for December delivery increased Rs158 or 0.21 per cent to Rs75,930 per kg in 792 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 0.22 per cent higher at $25.50 per ounce in New York.