Futures in divergent trading

Gold futures rose Rs93 to Rs58,733 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures dropped Rs79 to Rs73,470 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher by Rs93 or 0.16 per cent at Rs58,733 per 10 grams in a business turnover of 12,538 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.09 per cent higher at $1,941.60 per ounce in New York.

On MCX, silver contracts for September delivery declined by Rs79 or 0.11 per cent to Rs73,470 per kg in a business turnover of 6,806 lots. Globally, silver was trading 0.13 per cent lower at $24.55 per ounce in New York.