Futures rebound on firm spot demand

Gold futures rose Rs269 to Rs72,012 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures jumped Rs733 to Rs84,710 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher Rs269 or 0.37 per cent at Rs72,012 per 10 grams in a business turnover of 16,579 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.61 per cent to $2,553.20 per ounce in New York.