Futures higher on firm spot demand
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Gold futures rose Rs45 to Rs71,900 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures climbed Rs344 to Rs85,230 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 Rs45 or 0.06 per cent at Rs71,900 per 10 grams in a business turnover of 12,625 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went down 0.03 per cent at $2,342.30 per ounce in New York.
On MCX, silver contracts for July delivery increased Rs344 or 0.41 per cent to Rs85,230 per kg in 27,572 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend.
