Futures rise on firm spot demand

Gold futures rose Rs363 to Rs71,619 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures climbed Rs1,319 to Rs91,867 per kilogram as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher Rs363 or 0.51 per cent at Rs71,619 per 10 grams in a business turnover of 6,575 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures went up 0.37 per cent at $2,365.70 per ounce in New York.