Futures back in divergent trading

Gold futures rose Rs98 to Rs59,493 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures dropped Rs239 to Rs74,850 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher by Rs98 or 0.16 per cent at Rs59,493 per 10 grams in a business turnover of 12,166 lots. Fresh positions built up by participants led to the rise in gold prices, ana lysts said. Globally, gold was trading 0.16 per cent higher at $1,970.30 per ounce in New York.