Gold, Silver futures decline on low demand

Gold prices fell by Rs 104 to Rs 49,210 per 10 gram in futures trade on Monday, as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for December traded lower by Rs 104, or 0.21 per cent, to Rs 49,210 per 10 gram in a business turnover of 6,969 lots.

Analysts attributed the fall in gold prices to trimming of positions by participants.

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Globally, gold traded 0.24 per cent lower at USD 1,864 an ounce in New York.

Silver futures on Monday eased by Rs 229 to Rs 66,915 per kg, as participants reduced their bets on low demand.

On the Multi Commodity Exchange, silver contracts for December delivery tumbled by Rs 229, or 0.34 per cent, to Rs 66,915 per kg in a business turnover of 8,372 lots.

The metal traded lower by 0.32 per cent at USD 25.27 per ounce in New York.