Futures recover as speculators build-up positions
image for illustrative purpose
Gold futures jumped Rs112 to Rs62,220 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. Silver futures rose Rs390 to Rs70,999 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 Rs112, or 0.18 per cent, at Rs62,220 per 10 grams in a business turnover of 13,435 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.32 per cent to $2,040.90 per ounce in New York.
On Gold prices, Silver Prices, Multi Commodity Exchange, MCX, Trade, silver contracts for March delivery increased Rs 390, or 0.55 per cent, to Rs 70,999 per kg in 21,364 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 0.94 per cent higher at $23.31 per ounce in New York.
