Futures rise on firm spot demand

Gold futures rose Rs135 to Rs65,730 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures rose Rs331 to Rs75,557 per kilogram in futures trade as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded higher Rs135, or 0.21 per cent, at Rs65,730 per 10 grams in a business turnover of 15,000 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.18 per cent to $2,171.30 per ounce in New York. On MCX, silver contracts for May delivery increased Rs 331 or 0.44 per cent to Rs 75,557 per kg in 25,338 lots. Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend. Globally, silver was trading marginally lower at $25.25 per ounce in New York.