Futures rise on firm spot demand
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Gold futures rose Rs381 to Rs60,699 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. Silver price jumped Rs709 to Rs72,325 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 Rs381 or 0.63 per cent at Rs60,699 per 10 grams in a business turnover of 15,051 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.66 per cent higher at $1,993.50 per ounce in New York.
On MCX, silver contracts for December delivery increased Rs709 or 0.99 per cent to Rs72,325 per kg in 18,640 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 1.28 per cent higher at $23.33 per ounce in New York.
