Futures continue to rise
image for illustrative purpose
Gold futures increased by Rs185 to Rs59,135 per 10 gram as speculators created fresh positions on firm spot demand. Silver futures jumped Rs23 to Rs73,770 per kilogram as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs185 or 0.31 per cent at Rs59,135 per 10 grams in a business turnover of 2,347 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.22 per cent higher at $1,989.50 per ounce in New York.
On MCX, silver contracts for September delivery gained Rs23 or 0.03 per cent to Rs73,770 per kg in 15,299 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend. Globally, silver was trading 0.07 per cent lower at $24.35 per ounce in New York.
