Gold, Silver futures fall on low demand

New Delhi, Sep 14: Gold prices on Wednesday fell by Rs 126 to Rs 50,012 per 10 gram in futures trade as speculators reduced their positions.

On the Multi Commodity Exchange, gold contracts for October delivery traded lower by Rs 126 or 0.25 per cent at Rs 50,012 per 10 gram in a business turnover of 9,974 lots.

Analysts attributed the fall in gold prices to the trimming of positions by participants.
Globally, gold was trading 0.46 per cent lower at USD 1,709.50 per ounce in New York.

Meanwhile Silver futures dropped by Rs 281 to Rs 56,530 per kg as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for December delivery declined by Rs 281 or 0.49 per cent to Rs 56,530 per kg in a business turnover of 19,270 lots.

Globally, silver was trading 0.93 per cent lower at USD 19.31 per ounce in New York.