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gold price: Precious Metals: Gold, silver rise in futures trade amid strong demand

by FxFinanceStockNews


Gold prices rose by Rs 199 to Rs 41,199 per 10 gram in futures trade on Saturday as the speculators increased their holdings on positive spot demand.

The MCX, which usually remains closed on weekend, was open for trading on Saturday on account of the presentation of the Union Budget.

Gold contracts for February traded higher by Rs 199, or 0.49 per cent, at Rs 41,199 per 10 gram in a business turnover of 31 lots.

The metal for April delivery edged up by Rs 97, or 0.24 per cent, to Rs 41,149 per 10 gram in a business turnover of 1,383 lots.


Silver


Silver futures traded higher by Rs 46 at Rs 47,035 per kg on Saturday as participants widened their bets, driven by a firm trend at the spot market.

The Multi Commodity Exchange (MCX), which usually remains closed on weekend, was open for trading on Saturday on account of presentation of the Union Budget.

Silver contracts for March delivery rose by Rs 46, or 0.10 per cent, to Rs 47,035 per kg in a business turnover of 1,981 lots on MCX.

The white metal to be delivered in May also jumped Rs 8, or 0.02 per cent, to Rs 47,497 per kg in 31 lots.

Analysts said widening of positions by traders influenced silver prices here.

Overseas markets are closed for weekend.





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