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Futures rebound on speculative demand

Futures rebound on speculative demand
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Gold futures rose Rs60 to Rs65,541 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures rose Rs65 to Rs73,915 per kilogram as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for April delivery traded higher Rs60 or 0.09 per cent at Rs65,541 per 10 grams in a business turnover of 16,600 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures declined 0.05 per cent to $2,165.10 per ounce in New York.

On MCX, silver contracts for May delivery increased Rs65 or 0.09 per cent to Rs73,915 per kg in 21,978 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 marginally lower at $24.39 per ounce in New York.

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