Divergent trading in futures

Gold futures increased Rs41 to Rs58,450 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. Silver futures fell Rs299 to Rs70,243 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher Rs41 or 0.07 per cent at Rs58,450 per 10 grams in a business turnover of 10,990 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.08 per cent higher at $1,931.10 per ounce in New York.