Gold Futures Rise In Divergent Trading

Gold futures increased Rs29 to Rs73,525 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures fell Rs28 to Rs89,581 per kilogram as participants reduced their bets. On Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher Rs29 or 0.04 per cent at Rs73,525 per 10 grams in a business turnover of 14,680 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.10 per cent to $2,611.60 per ounce in New York. On MCX, silver contracts for December delivery marginally declined by Rs28 or 0.03 per cent to Rs89,581 per kg in a business turnover of 25,956 lots. Globally, silver was trading 0.18 per cent lower at $31.19 per ounce in New York.