Futures rebound on firm spot demand

Gold futures jumped Rs11 to Rs62,327 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures rose Rs14 to Rs70,494 per kilogram as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded higher by Rs11, or 0.02 per cent, at Rs62,327 per 10 grams in a business turnover of 14,179 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased by 0.08 per cent to $2,041.30 per ounce in New York. On MCX, silver contracts for March delivery increased Rs14, or 0.02 per cent, to Rs70,494 per kg in 32,115 lots.