Analysts attributed the fall in gold prices to trimming of positions by participants
New Delhi: Gold prices fell Rs 15 to Rs 46,540 per 10 gram in the futures trade on Wednesday, as speculators reduced their positions amid low demand. On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by Rs 15, or 0.03 per cent, to Rs 46,540 per 10 gram in a business turnover of 11,409 lots. Analysts attributed the fall in gold prices to trimming of positions by participants.
Globally, gold traded 0.39 per cent lower at USD 1,756.70 an ounce in New York.
On the otherhand, silver prices rose Rs 116 to Rs 68,390 per kg in the futures trade on Wednesday, as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for the September delivery gained Rs 116, or 0.17 per cent, to Rs 68,390 per kg in 11,869 lots. Analysts said the rise in silver prices was mostly due to fresh positions built by participants on a positive domestic trend.
However, globally, silver was trading 0.22 per cent lower at USD 25.85 per ounce in New York.