Futures rise on firm spot demand
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Gold futures rose Rs151 to Rs60,262 per 10 grams as speculators created fresh positions on firm spot demand. Silver prices jumped Rs243 to Rs72,615 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 Rs151 or 0.25 per cent at Rs60,262 per 10 grams in a business turnover of 9,298 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up by 0.25 per cent to $1,969.20 per ounce in New York.
On MCX, silver contracts for December delivery increased Rs243 or 0.84 per cent to Rs72,615 per kg in 18,177 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 0.35 per cent higher at $23.62 per ounce in New York.
