1. Gold futures remain up, Silver futures extend gains on firm global cues

Gold futures remain up, Silver futures extend gains on firm global cues

At the Multi Commodity Exchange, gold for delivery in June month rose by Rs 82, or 0.29 per cent to Rs 28,743 per 10 grams in business turnover of 506 lots while silver for delivery in July rose by Rs 92, or 0.23 per cent, to Rs 39,894 per kg in business turnover of 715 lots.

By: | Published: May 26, 2017 1:09 PM
Globally, gold rose 0.23 per cent to USD 1258.30 an ounce in Singapore.

Rising for the second straight day, gold prices gained Rs 82 to Rs 28,743 per 10 grams in futures trade today as speculators enlarged their positions on firm global cues. At the Multi Commodity Exchange, gold for delivery in June month rose by Rs 82, or 0.29 per cent to Rs 28,743 per 10 grams in business turnover of 506 lots.

In a similar fashion, the yellow metal for delivery in far-month August contracts gained Rs 70, or 0.24 per cent to Rs 28,904 per 10 grams in 37 lots. Market analysts said widening of positions by traders in line with a firm global trend mainly kept gold prices higher in futures trade.

Globally, gold rose 0.23 per cent to USD 1258.30 an ounce in Singapore.

Extending gains for the second day, silver prices were higher by 0.23 per cent to Rs 39,894 per kg in futures trade today as speculators engaged in building up their positions amid firm trend overseas. At the Multi Commodity Exchange, silver for delivery in July rose by Rs 92, or 0.23 per cent, to Rs 39,894 per kg in business turnover of 715 lots.

On similar lines, the white metal for delivery in September contracts was trading higher by Rs 29, or 0.07 per cent, to Rs 40,303 per kg in 4 lots. Market analysts said expanding of positions by traders, driven by a firm trend overseas mainly kept silver prices higher at futures trade.

Globally, silver rose 0.26 per cent to USD 17.16 an ounce in Singapore.

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