Futures continue to rise on speculative bets
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Gold futures increased by Rs226 to Rs59,415 per 10 grams as speculators created fresh positions on firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs226 or 0.38 per cent at Rs59,415 per 10 grams in a business turnover of 4,637 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.34 per cent higher at $2,009.60 per ounce in New York.
Silver prices increased by Rs187 to Rs74,960 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On MCX, silver contracts for September delivery gained Rs187 or 0.25 per cent to Rs74,960 per kg in 17,347 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 0.44 per cent higher at $24.69 per ounce in New York.
