Gold futures jump to Rs 59,437, silver futures also rise

Gold prices on Monday rose Rs 84 to Rs 59,437 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 84 or 0.14 per cent at Rs 59,437 per 10 grams in a business turnover of 2,950 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Globally, gold was trading 0.14 per cent lower at USD 1,960.40 per ounce in New York.

Silver futures rise on spot demand

Silver price on Monday increased Rs 30 to Rs 71,259 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for July delivery gained Rs 30 or 0.04 per cent to Rs 71,259 per kg in 13,818 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 0.04 per cent lower at USD 23.35 per ounce in New York.