Tracking a firming trend overseas, gold prices rose by Rs 49 to Rs 28,993 per 10 grams in futures trade today as speculators built up fresh positions. At the Multi Commodity Exchange, gold for delivery in August rose by Rs 49, or 0.17 per cent, to Rs 28,993 per ten grams in a business turnover of 165 lots.
On similar lines, the yellow metal for delivery in October traded higher by Rs 47, or 0.16 per cent to Rs 29,138 per ten grams in 3 lots. Market analysts said fresh positions created by participants in tandem with a firm trend overseas mainly attributed the rise in gold prices at futures trade.
Globally, gold rose 0.23 per cent to USD 1,269 an ounce in Singapore.
Silver prices moved up by 0.54 per cent to Rs 39,600 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 September rose by Rs 212, or 0.54 per cent, to Rs 39,600 per kg, in a business turnover of four lots.
Similarly, the white metal for delivery in July gained Rs 205, or 0.53 per cent, to Rs 38,976 per kg in 495 lots. Market analysts said fresh positions created by participants on the back of better trend in global markets mainly led to the rise in silver prices at futures trade.
Meanwhile, silver rose 0.42 per cent to USD 16.88 an ounce in Singapore.