Futures rising on speculative demand

Gold futures rose Rs245 to Rs 71,585 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures jumped Rs362 to Rs82,812 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 Rs245 or 0.34 per cent at Rs71,585 per 10 grams in a business turnover of 23,529 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.51 per cent to $2,374.40 per ounce in New York.