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Futures rebound on firm spot demand

Futures rebound on firm spot demand
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Gold futures jumped Rs47 to Rs63,610 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures rose Rs36 to Rs72,314 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded higher Rs47, or 0.07 per cent, at Rs63,610 per 10 grams in a business turnover of 14,847 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures decreased 0.02 per cent to $2,095.30 per ounce in New York.

On MCX, silver contracts for May delivery increased Rs36, or 0.05 per cent, to Rs72,314 per kg in 21,802 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 0.06 per cent lower at $23.35 per ounce in New York.

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