Futures Rebound On Renewed Speculation

Gold futures increased Rs302 to Rs75,020 per 10 grams as speculators created fresh positions on a firm spot demand. Silver prices rose Rs327 to Rs92,725 per kilogram as participants widened their bets on a firm spot demand. On Multi Commodity Exchange (MCX), gold contracts for December delivery traded higher by Rs302 or 0.4 per cent at Rs75,020 per 10 grams in a business turnover of 463 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures declined 0.15 per cent to $2,654 per ounce in New York. On MCX, silver contracts for December delivery increased Rs327 or 0.36 per cent to Rs92,725 per kg in a business turnover of 1,360 lots. Globally, silver was trading 0.57 per cent higher at $31.58 per ounce in New York.