1. Gold futures rise 0.10%; Silver futures climb 0.48% on firm global cues

Gold futures rise 0.10%; Silver futures climb 0.48% on firm global cues

Gold prices rose by 0.10 per cent to Rs 28,150 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 29, or 0.10 per cent, to Rs 28,150 per 10 gram, in a business turnover of one lot.

By: | Published: May 12, 2017 12:44 PM
Analysts said fresh positions built up by traders in line with a firm global trend as the US and European stock markets retreated, raising demand for the precious metal, influenced the sentiment.

Gold prices rose by 0.10 per cent to Rs 28,150 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 29, or 0.10 per cent, to Rs 28,150 per 10 gram, in a business turnover of one lot.

Likewise, the yellow metal for delivery in June moved up by Rs 26, or 0.09 per cent, to Rs 28,030 per 10 gram in 255 lots.

Analysts said fresh positions built up by traders in line with a firm global trend as the US and European stock markets retreated, raising demand for the precious metal, influenced the sentiment.

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Globally, gold rose 0.08 per cent to USD 1,225.80 an ounce in Singapore.

Silver futures climb 0.48% on firm global cues. Tracking a firm trend overseas, silver prices surged by 0.48 per cent to Rs 38,174 per kg in futures trading today as traders built up fresh positions. At the Multi Commodity Exchange, silver for delivery in far-month July rose by Rs 182, or 0.48 per cent, to Rs 38,174 per kg, with a business turnover of 401 lots.

Market analysts said fresh positions created by participants in line with a firm trend in global markets, mainly influenced silver prices at futures trade. Meanwhile, silver rose 0.34 per cent to USD 16.36 an ounce in Singapore.

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