Gold prices on Thursday rose by Rs 107 to Rs 38,746 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 107, or 0.28 per cent, at Rs 38,746 per 10 gram in a business turnover of 2,981 lots.
The yellow metal for April delivery also traded higher by Rs 147, or 0.38 per cent, at Rs 38,835 per 10 gram in a business turnover of 277 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 0.25 per cent to $1,508.50 per ounce in New York.
Silver
Silver futures on Thursday traded higher by Rs 482 to Rs 46,988 per kg after speculators raised bets, driven by a firm trend overseas.
Silver contracts for March delivery rose by Rs 482 to Rs 46,988 per kg in a business turnover of 2,654 lots on the Multi Commodity Exchange.
Besides, the white metal to be delivered in May jumped by Rs 574 to Rs 47,462 per kg in 42 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 0.99 per cent higher at $18.03 an ounce in New York.
Source: Economic Times
