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Futures in divergent trading

Futures in divergent trading
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Gold futures jumped Rs34 to Rs62,038 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures fell Rs131 to Rs71,175 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded higher Rs34, or 0.05 per cent, at Rs62,038 per 10 grams in a business turnover of 13,387 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.45 per cent to $2,033.30 per ounce in New York.

On MCX, silver contracts for March delivery declined Rs131 or 0.18 per cent to Rs71,175 per kg in a business turnover of 21,844 lots. Globally, silver was trading 1.85 per cent lower at $23.04 per ounce in New York.

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