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Precious Metals: Gold, silver trades up in futures amid high demand

Precious Metals: Gold, silver trades up in futures amid high demand

Gold prices on Friday rose by Rs 94 to Rs 39,780 per 10 gram in futures trade as speculators increased their bets in tandem with positive overseas trend.

On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 94, or 0.24 per cent, at Rs 39,780 per 10 gram in a business turnover of 1,19,280 lots.

The yellow metal for April delivery also traded higher by Rs 81, or 0.2 per cent, at Rs 39,900 per 10 gram in a business turnover of 11,348 lots.

Fresh positions built up by participants taking positive cues from global markets mostly led to the rise in gold prices, analysts said.

Globally, gold prices rose 0.31 per cent to $1,555.30 per ounce in New York.

SILVER
Silver futures on Friday traded higher by Rs 220 to Rs 46,642 per kg after speculators raised bets, driven by a firm trend overseas.

Silver contracts for March delivery rose by Rs 220 to Rs 46,642 per kg in a business turnover of 10,530 lots on the Multi Commodity Exchange.

Besides, the white metal to be delivered in May jumped by Rs 215 to Rs 47,129 per kg in 627 lots.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

In the international market, silver traded 0.62 per cent higher at $18.05 an ounce in New York.

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