Futures in divergent trading
image for illustrative purpose
Gold prices rose by Rs281 to Rs62,650 per 10 grams in futures trade as speculators created fresh positions on firm spot demand. Silver prices fell Rs25 to Rs76,143 per kilogram as participants reduced their bets.
On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded higher by Rs281 or 0.45 per cent at Rs62,650 per 10 grams in a business turnover of 17,124 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up by 0.60 per cent to $2,054.40 per ounce in New York.
On MCX, silver contracts for March delivery declined by Rs25 or 0.03 per cent to Rs76,143 per kg in a business turnover of 18,178 lots. Globally, silver was trading 0.07 per cent higher at $24.93 per ounce in New York.
