Tracking a firming trend overseas, gold prices rose by another 0.53 per cent to Rs 29,468 per 10 grams in futures trading today as speculators engaged in enlarging their positions. At the Multi Commodity Exchange, gold for delivery in October rose by Rs 156, or 0.53 per cent to Rs 29,468 per ten grams in business turnover of 2 lots.
In a similar fashion, the yellow metal for delivery in August contracts was trading higher by Rs 138, or 0.47 per cent to Rs 29,355 per ten grams in 1,289 lots.
Market analysts said widening of positions by participants in tandem with a firming trend overseas mainly kept gold prices higher at futures trade.
Globally, gold rose 0.58 per cent to USD 1,286.70 an ounce in Singapore.
Silver prices rose by 0.29 per cent to Rs 40,570 per kg in futures trade today as traders built up fresh positions, driven by a firm trend overseas. At the Multi Commodity Exchange, silver for delivery in July went up by Rs 117, or 0.29 per cent to Rs 40,570 per kg in business turnover of 1,236 lots.
Likewise, the white metal for delivery in September contracts traded higher by Rs 116, or 0.28 per cent to Rs 41,040 per kg in 9 lots.
Market analysts said fresh positions created by participants on the back of firm trend in global markets mainly attributed the rise in silver prices at futures trade.
Meanwhile, silver rose 0.49 per cent to USD 17.61 an ounce in Singapore.