Home Misc NewsCommodity Markets News gold price: Precious Metals: Gold, silver trade up in futures amid firm demand

gold price: Precious Metals: Gold, silver trade up in futures amid firm demand

by FxFinanceStockNews


Gold prices on Friday rose Rs 230 to Rs 37,805 per 10 gram in futures trade as speculators widened their bets on spot demand, tracking a firm trend overseas.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 230, or 0.61 per cent, at Rs 37,805 per 10 gram in a business turnover of 2,040 lots.

Gold for delivery in February next year also edged up by Rs 257, or 0.68 per cent, at Rs 37,875 per 10 gram in 228 lots.

Analysts said the rise in gold prices was mostly on the back of fresh positions built by participants on strong overseas trend.

Globally, gold price was quoting 0.29 per cent up at $1,470.70 an ounce in New York.

Silver

Silver prices on Friday rose by Rs 147 to Rs 44,315 per kg in futures trade as participants widened their bets despite a sluggish trend overseas.

On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 147, or 0.33 per cent, to Rs 44,315 per kg in a business turnover of 3,451 lots.

Similarly, the white metal for delivery in March next year traded higher by Rs 190, or 0.42 per cent, to Rs 44,949 per kg in 138 lots.

Analysts said widening of positions by participants amid firm demand at physical markets influenced silver prices here.

In the international market, silver was down 0.03 per cent at $17.01 an ounce in New York.





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