Futures rebound on speculative demand

Gold futures rose Rs26 to Rs68,294 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures jumped Rs373 to Rs81,660 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher Rs26 or 0.04 per cent at Rs68,294 per 10 grams in a business turnover of 1,540 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.33 per cent to $2,433.50 per ounce in New York.

On MCX, silver contracts for September delivery increased Rs373 or 0.46 per cent to Rs81,660 per kg in 29,099 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend. Globally, silver was trading 0.62 per cent higher at $28.04 per ounce in New York.