Futures gaining as speculators build up positions
image for illustrative purpose
Gold futures increased by Rs312 to Rs61,277 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand. Silver futures increased Rs510 to Rs77,092 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher by Rs312 or 0.51 per cent at Rs61,277 per 10 grams in a business turnover of 15,580 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.47 per cent higher at $2,046.60 per ounce in New York.
On MCX, silver contracts for July delivery gained Rs510 or 0.67 per cent to Rs77,092 per kg in 19,885 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 0.87 per cent higher at $25.91 per ounce in New York.
