Futures continue to rise on firm spot demand
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Gold prices rose by Rs51 to Rs58,463 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures increased by Rs295 to Rs69,480 per kilogram as participants widened their bets on robust spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs51 or 0.09 per cent at Rs58,463 per 10 grams in a business turnover of 12,412 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.03 per cent higher at $1,934.40 per ounce in New York.
On MCX, silver contracts for July delivery gained Rs295 or 0.43 per cent to Rs69,480 per kg in 6,870 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants following a positive domestic trend. Globally, silver was trading 0.42 per cent higher at $23.12 per ounce in New York.
