Futures Recover On Firm Spot Demand

Gold futures rose Rs167 to Rs76,643 per 10 grams in futures trade as speculators created positions on a firm spot demand. Silver futures jumped Rs472 to Rs92,896 per kilogram as participants increased their bets.

On Multi Commodity Exchange (MCX), gold contracts for February delivery traded higher by Rs167 or 0.22 per cent at Rs76,643 per 10 grams in a business turnover of 12,479 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures rose 0.24 per cent to $2,637.99 per ounce in New York.

On MCX, silver contracts for March delivery rose Rs472 or 0.51 per cent to Rs92,896 per kg in a business turnover of 24,430 lots. Fresh positions built up by participants led to a rise in silver prices, analysts said.