Gold prices on the Multi Commodity Exchange of India (MCX) fell following lacklustre trading activity on the international market. As the US House passed a debt bill and looks ahead to June's Federal Reserve Open Market Committee meeting, investors took profits in gold and silver. Anuj Gupta, VP of commodity and currency research at IIFL Securities, expects both gold and silver futures to remain range bound in the short term. The correction in the gold market follows gold futures on MCX declining by 0.64% in May, while silver futures lost nearly 0.60% in value during the same period, he said.
