Futures rebound on firm spot demand
image for illustrative purpose
Gold futures increased by Rs79 to Rs59,155 per 10 grams as speculators created fresh positions on firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for August delivery traded higher by Rs79 or 0.13 per cent at Rs59,155 per 10 grams in a business turnover of 5,506 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said.
Globally, gold was trading 0.03 per cent higher at $2,001.50 per ounce in New York.
Silver futures increased by Rs309 to Rs74,405 per kilogram as participants widened their bets on a firm spot demand. On MCX, silver contracts for September delivery gained Rs309 or 0.42 per cent to Rs74,405 per kg in 16,249 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 0.44 per cent higher at $24.69 per ounce in New York.
