Futures rising on firm spot demand
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Gold futures rose Rs1,139 to Rs68,840 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures rose Rs977 to Rs76,025 per kilogram in futures trade as participants widened their bets on a firm spot demand.
On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher Rs1,139 or 1.68 per cent at Rs68,840 per 10 grams in a business turnover of 23,721 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 1.89 per cent to $2,280.80 per ounce in New York.
On MCX, silver contracts for May delivery increased Rs977 or 1.3 per cent to Rs76,025 per kg in 23,593 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 higher 1.70 per cent at $25.34 per ounce in New York.
