Divergent trading continues in futures trading

Gold futures rose Rs141 to Rs72,418 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures fell Rs366 to Rs83,485 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher Rs141 or 0.2 per cent at Rs72,418 per 10 grams in a business turnover of 22,196 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures decreased 0.05 per cent to $2,381.70 per ounce in New York.

Globally, silver was trading 1.14 per cent lower at $28.36 per ounce in New York.