Speculative Demand Pushing Futures Up

Gold futures increased Rs344 to Rs73,782 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures rose Rs180 to Rs90,148 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher by Rs344 or 0.47 per cent at Rs73,782 per 10 grams in a business turnover of 12,679 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.66 per cent to $2,631.80 per ounce in New York.