Futures hovering in divergent trading

Gold futures rose Rs10 to Rs68,975 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures fell Rs601 to Rs79,022 per kilogram as participants reduced their bets. On Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher Rs10 or 0.01 per cent at Rs68,975 per 10 grams in a business turnover of 18,223 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.06 per cent to $2,433.10 per ounce in New York.

On MCX, silver contracts for September delivery declined by Rs601 or 0.75 per cent to Rs79,022 per kg in a business turnover of 28,899 lots. Globally, silver was trading 0.79 per cent lower at $27 per ounce in New York.