Business News

Gold, silver futures climb on global cues

Gold, silver futures climb on global cues

New Delhi: Gold prices rose 0.49 per cent to Rs 29,853 per 10 grams in futures trade today as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in December rose by Rs 146, or 0.49 per cent, to Rs 29,853 per 10 grams, in a business turnover of 360 lots. The yellow metal for delivery in February moved up by a similar margin to trade at Rs 29,950 per 10 grams in 2 lots. Analysts said traders built up fresh positions in line with a firm global trend, which supported the upside in gold prices at futures trade here. Globally, gold rose 0.26 per cent to USD 1,294.40 an ounce in Singapore.

Tracking a firm trend overseas, silver prices surged by Rs 208 to Rs 40,337 per kg in futures trade today as traders built up fresh positions. At the Multi Commodity Exchange, silver for delivery in December spurted by Rs 208, or 0.52 per cent, to Rs 40,337 per kg, in a business turnover of 390 lots. Similarly, the white metal for delivery in March next year was trading higher by Rs 187, or 0.46 per cent, to Rs 40,886 per kg in 5 lots. Market analysts said fresh positions were created by participants in line with a firm trend in global markets that influenced silver prices at futures market here. Meanwhile, silver rose 0.29 per cent to USD 17.20 an ounce in Singapore.

 

PTI