Futures gaining on renewed speculation
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Gold futures increased by Rs145 to Rs61,072 per 10 gram as speculators created fresh positions on a firm spot demand. Silver futures fell Rs130 to Rs 76,949 per kilogramme as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher by Rs145 or 0.24 per cent at Rs61,072 per 10 gram in a business turnover of 14,297 lots.
Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.16 per cent lower at $2,030 per ounce in New York.
On MCX, silver contracts for July delivery declined by Rs130 or 0.17 per cent to Rs76,949 per kg in a business turnover of 19,494 lots. Globally, silver was trading 0.63 per cent lower at $25.67 per ounce in New York.
