Futures recover on renewed spot demand

New Delhi: Gold futures rose Rs249 to Rs58,189 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures jumped Rs564 to Rs69,990 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 Rs249 or 0.43 per cent at Rs58,189 per 10 grams in a business turnover of 14,030 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.40 per cent higher at 41,894.90 per ounce in New York.

On MCx, silver contracts for December delivery gained Rs564 or 0.81 per cent to Rs69,990 per kg in 25,072 lots.