Futures rise on firm spot demand

Gold prices jumped Rs200 to Rs71,977 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures rose Rs216 to Rs84,946 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher Rs200 or 0.28 per cent at Rs71,977 per 10 grams in a business turnover of 17,678 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.15 per cent to $2,554.50 per ounce in New York.

On MCX, silver contracts for September delivery increased Rs216 or 0.25 per cent to Rs84,946 per kg in 21,950 lots.