Futures rise on fresh long positions

Gold futures rose Rs76 to Rs70,775 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures jumped Rs510 to Rs81,559 per kilogram as participants widened their bets on a firm spot demand. On Multi Commodity Exchange (MCX), gold contracts for October delivery traded higher Rs76 or 0.11 per cent at Rs70,775 per 10 grams in a business turnover of 17,397 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures decreased 0.07 per cent to $2,506 per ounce in New York.