Futures rebound on firm spot demand

Gold futures rose Rs401 to Rs59,619 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. Silver futures jumped Rs483 to Rs72,050 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded higher by Rs401 or 0.68 per cent at Rs59,619 per 10 grams in a business turnover of 13,849 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.79 per cent higher at 41,950.90 per ounce in New York.