Futures recover on firm spot demand

Gold futures jumped Rs172 to Rs73,643 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures jumped Rs258 to Rs92,830 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher Rs172 or 0.23 per cent at Rs73,643 per 10 grams in a business turnover of 12,177 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.36 per cent to $2,437.60 per ounce in New York.