Futures gain on fresh spot demand

Gold futures rose Rs904 to Rs72,543 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures climbed Rs1,016 to Rs85,515 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher Rs904 or 1.26 per cent at Rs72,543 per 10 grams in a business turnover of 14,998 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up 1.40 per cent at $2,373 per ounce in New York.