Rising Speculation Propels Futures Up

Gold futures increased Rs242 to Rs76,276 per 10 grams in futures trade as speculators created positions on a firm spot demand. Silver futures jumped Rs523 to Rs90,612 per kilogram as participants increased their bets. On Multi Commodity Exchange (MCX), gold contracts for December delivery traded higher by Rs242 or 0.32 per cent at Rs76,276 per 10 grams in a business turnover of 8,313 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures rose 0.24 per cent to $2,657.06 per ounce in New York.