Divergent trading in futures continues

New Delhi: Gold futures rose Rs48 to Rs59,441 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures dropped Rs771 to Rs73,750 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher by Rs48 or 0.08 per cent at Rs59,441 per 10 grams in a business turnover of 11,996 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.21 per cent lower at $1,962.90 per ounce in New York.