Futures continue to rise on speculative bets
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Gold futures increased by Rs13 to Rs59,252 per 10 gram as speculators created fresh positions on a firm spot demand. Silver futures increased by Rs94 to Rs75,420 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs13 or 0.02 per cent at Rs59,252 per 10 gram in a business turnover of 9,488 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.13 per cent lower at $1,961.30 per ounce in New York.
On MCX, silver contracts for September delivery gained Rs94 or 0.12 per cent to Rs75,420 per kg in 18,384 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 0.24 per cent higher at $25.01 per ounce in New York.
