Futures gain on firm spot demand

Gold futures increased by Rs195 to Rs59,330 per 10 gram as speculators created fresh positions on a firm spot demand. Silver futures rose by Rs248 to Rs75,815 per kilogram as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs195 or 0.33 per cent at Rs59,330 per 10 gram in a business turnover of 8,212 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.48 per cent higher at $1,965.70 per ounce in New York.