Futures rise on firm spot demand

Gold futures rose by Rs19 to Rs86,203 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver prices surged by Rs411 to Rs95,500 per kilogram as participants increased their bets. On Multi Commodity Exchange (MCX), gold contracts for April delivery traded higher by Rs19 or 0.02 per cent at Rs86,203 per 10 grams in a business turnover of 16,655 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures decreased 0.61 per cent to $2,933.77 per ounce in New York.

On MCX, silver contracts for March delivery rose by Rs411 or 0.43 per cent to Rs95,500 per kg in a business turnover of 12,948 lots. Fresh positions built up by participants led to a rise in silver prices, analysts said. Globally, silver was trading 0.22 per cent lower at $32.27 per ounce in New York.