Futures gain as spot demand rises

Gold futures jumped Rs393 to Rs72,125 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures rose Rs1,400 to Rs90,875 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher Rs393, or 0.55 per cent, at Rs72,125 per 10 grams in a business turnover of 14,727 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.28 per cent to $2,353.40 per ounce in New York.