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Futures rise on speculative demand

Futures rise on speculative demand
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Gold futures rose Rs73 to Rs66,096 per 10 grams as speculators created fresh positions on a firm spot demand. Silver futures rose Rs38 to Rs74,300 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 Rs73 or 0.11 per cent, at Rs66,096 per 10 grams in a business turnover of 17,571 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures increased 0.15 per cent to $2,188.70 per ounce in New York. On MCX, silver contracts for May delivery increased Rs38 or 0.05 per cent to Rs74,300 per kg in 22,083 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 0.08 per cent lower at $24.53 per ounce in New York.

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