Futures rise on firm spot demand
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Gold futures rose Rs94 to Rs60,879 per 10 grams as speculators created fresh positions on firm spot demand. Silver prices on Thursday jumped Rs602 to Rs71,900 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 Rs94 or 0.15 per cent at Rs60,879 per 10 grams in a business turnover of 14,168 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up by 0.21 per cent to $1,991.60 per ounce in New York.
On MCX, silver contracts for December delivery increased Rs602 or 0.84 per cent to Rs71,900 per kg in 18,991 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 1.43 per cent higher at $23.12 per ounce in New York.
