Futures rebound on renewed spot demand
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Gold futures rose Rs50 to Rs71,540 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand. Silver futures rose Rs461 to Rs89,124 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher Rs50 or 0.07 per cent at Rs71,540 per 10 grams in a business turnover of 15,149 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures grew 0.12 per cent to $2,329.50 per ounce in New York.
On MCX, silver contracts for July delivery increased Rs461 or 0.52 per cent to Rs89,124 per kg in 21,352 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend.
