Futures rise on firm spot demand
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Gold futures jumped Rs95 to Rs62,344 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures rose Rs697 to Rs69,400 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 Rs95, or 0.15 per cent, at Rs62,344 per 10 grams in a business turnover of 12,957 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.09 per cent to $2,044.60 per ounce in New York.
On MCX, silver contracts for March delivery increased Rs697, or 1.01 per cent, to Rs69,400 per kg in 561 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 0.26 per cent higher at $22.70 per ounce in New York.
