Futures rise on firm spot demand

Gold futures jumped Rs353 to Rs74,490 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures jumped Rs568 to Rs92,510 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher Rs353 or 0.48 per cent at Rs74,490 per 10 grams in a business turnover of 12,897 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.65 per cent to $2,475.80 per ounce in New York.