Futures trading in divergent ways
image for illustrative purpose
Gold futures rose Rs204 to Rs57,833 per 10 grams as speculators created fresh positions on firm spot demand. Silver futures fell Rs583 to Rs69,501 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for December delivery traded higher by Rs204 or 0.35 per cent at Rs57,833 per 10 grams in a business turnover of 14,566 lots.
Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.31 per cent higher at $1,881.20 per ounce in New York. On MCX, silver contracts for December delivery declined by Rs583 or 0.85 per cent to Rs69,501 per kg in a business turnover of 25,897 lots. Globally, silver was trading 1.24 per cent lower at $22.23 per ounce in New York.
