Futures continue to rise on speculative bets

Gold futures increased by Rs115 to Rs59,905 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. Silver futures increased by Rs215 to Rs76,624 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 Rs115 or 0.19 per cent at Rs59,905 per 10 grams in a business turnover of 8,029 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.16 per cent higher at $2,022.90 per ounce in New York.