Futures Rebound On Firm Spot Demand

Gold futures increased Rs141 to Rs76,889 per 10 grams in futures trade as speculators created positions on a firm spot demand. Silver futures rose Rs367 to Rs87,600 per kilogram as partici-pants increased their bets.

On Multi Commodity Exchange (MCX), gold contracts for February delivery traded higher by Rs141 or 0.18 per cent at Rs76,889 per 10 grams in a business turnover of 12,386 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures rose 0.87 per cent to $2,641 per ounce in New York.

On MCX, silver contracts for March delivery increased Rs367 or 0.42 per cent to Rs87,600 per kg in a business turnover of 34,201 lots. Fresh positions built up by participants led to a rise in silver prices, analysts said. Globally, silver was trading 0.58 per cent lower at $29.24 per ounce in New York.