Futures rising on speculative demand

Gold futures jumped Rs641 to Rs70,595 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures jumped Rs1,232 to Rs83,826 per kilogram as participants widened their bets on a firm spot demand.

On Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher Rs641 or 0.92 per cent at Rs70,595 per 10 grams in a business turnover of 19,971 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 1.12 per cent to $2,508.60 per ounce in New York.