Futures rebound on firm spot demand

Gold futures jumped Rs1,276 to Rs62,475 per 10 grams trade as speculators created fresh positions on firm spot demand. Silver prices jumped Rs3,550 to Rs75,082 per kilogram in futures trade as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for February delivery traded higher by Rs1,276 or 2.09 per cent at Rs62,475 per 10 grams in a business turnover of 14,839 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up by 2.51 per cent to $2,047.40 per ounce in New York.