Futures back in divergent trading

Gold futures rose Rs79 to Rs59,345 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures dropped Rs185 to Rs74,500 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher by Rs79 or 0.13 per cent at Rs59,345 per 10 grams in a business turnover of 12,422 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.07 per cent lower at $1,963.70 per ounce in New York.