Futures rising on firm spot demand
image for illustrative purpose
Gold futures rose Rs310 to Rs60,375 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures jumped Rs598 to Rs72,191 per kilogram as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded higher by Rs310 or 0.52 per cent at Rs60,375 per 10 grams in a business turnover of 9,897 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up by 0.45 per cent to $1,975.30 per ounce in New York.
On MCX, silver contracts for December delivery increased Rs598 or 0.84 per cent to Rs72,191 per kg in 18,241 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 1.01 per cent higher at USD 23.37 per ounce in New York.
