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Precious Metals: Gold, silver trade up in futures amid robust demand

Gold prices on Tuesday rose Rs 205 to Rs 39,176 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 205, or 0.53 per cent, at Rs 39,176 per 10 gram with a business turnover of 1,962 lots.

The yellow metal for April delivery also traded higher by Rs 186, or 0.48 per cent, at Rs 39,282 per 10 gram in a business turnover of 343 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 0.50 per cent to $1,526.20 per ounce in New York.


Silver futures on Tuesday traded higher by Rs 365 to Rs 47,220 per kg after speculators raised bets, driven by a firm trend overseas.

Silver contracts for March delivery rose by Rs 365 to Rs 47,220 per kg in a business turnover of 4,838 lots on the Multi Commodity Exchange.

Besides, the white metal to be delivered in May jumped by Rs 367 to Rs 47,720 per kg in 26 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 0.77 per cent higher at $18.14 an ounce in New York.

Source: Economic Times