Divergent trading in futures
image for illustrative purpose
Gold futures marginally rose by Rs8 to Rs60,545 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures fell Rs106 to Rs71,680 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded marginally higher by Rs8 or 0.01 per cent at Rs60,545 per 10 grams in a business turnover of 14,486 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures declined 0.10 per cent to $1,984.20 per ounce in New York.
On MCX, silver contracts for December delivery declined by Rs106 or 0.15 per cent to Rs71,680 per kg in a business turnover of 18,636 lots. Globally, silver was trading 0.44 per cent lower at $23.02 per ounce in New York.
