1. Gold futures rise 0.42%; Silver futures edge up by 0.23% on overseas cues

Gold futures rise 0.42%; Silver futures edge up by 0.23% on overseas cues

Gold prices moved up by 0.42 per cent to Rs 28,905 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas. Tracking a firm trend overseas, silver prices edged higher by 0.23 per cent to Rs 39,966 per kg in futures market today as speculators built up fresh positions.

By: | Published: May 23, 2017 12:11 PM
Globally, gold rose 0.13 per cent to USD 1,262 an ounce in Singapore.

Gold prices moved up by 0.42 per cent to Rs 28,905 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 June rose by Rs 120, or 0.42 per cent, to Rs 28,905 per 10 gram, in a business turnover of 504 lots.

On similar lines, the metal for delivery in far-month August traded higher by Rs 99, or 0.34 per cent, to Rs 29,010 per 10 gram in 62 lots. Analysts said fresh positions built up by traders in line with a firm global trend, mainly attributed the rise in gold prices at futures trade.

Globally, gold rose 0.13 per cent to USD 1,262 an ounce in Singapore.

Tracking a firm trend overseas, silver prices edged higher by 0.23 per cent to Rs 39,966 per kg in futures market today as speculators built up fresh positions. At the Multi Commodity Exchange, silver for delivery in July rose by Rs 92, or 0.23 per cent, to Rs 39,966 per kg, in a business turnover of 837 lots.

Likewise, the white metal for delivery in far-month September traded higher by Rs 42, or 0.10 per cent, to Rs 40,341 per kg in one lot. Market analysts said fresh positions created by participants in tandem with a firm trend in global cues, mainly influenced silver prices at futures trade.

Meanwhile, silver rose 0.03 per cent to USD 17.15 an ounce in Singapore.

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