1. Gold futures rise 0.50 per cent; Silver futures climb Rs 223 on firm global pointers

Gold futures rise 0.50 per cent; Silver futures climb Rs 223 on firm global pointers

Gold prices rose 0.50 per cent to Rs 28,235 per 10 grams in futures trade today as participants created fresh positions, tracking a firm trend overseas. Tracking a firm trend overseas, silver prices moved sharply up by Rs 223 to Rs 39,400 per kg in futures trading today as traders built up fresh positions.

By: | Published: May 17, 2017 1:13 PM

Gold prices rose 0.50 per cent to Rs 28,235 per 10 grams in futures trade today as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in June rose by Rs 141 or 0.50 per cent to Rs 28,235 per 10 grams in a business turnover of 546 lots.

Likewise, the yellow metal for delivery in far-month August moved up by Rs 115 or 0.41 per cent to Rs 28,402 per 10 grams in 13 lots. Analysts said a firm global trend after the dollar sank to six-month lows against major currencies, raised demand for precious metals, which influenced gold prices at futures trade here.

Globally, gold rose 0.52 per cent to USD 1,243.10 an ounce in Singapore.

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Tracking a firm trend overseas, silver prices moved sharply up by Rs 223 to Rs 39,400 per kg in futures trading today as traders built up fresh positions. At the Multi Commodity Exchange, silver for delivery in far-month September was trading notably higher by Rs 223, or 0.57 per cent, at Rs 39,400 per kg in a business turnover of six lots.

Similarly, the white metal for delivery in July was trading higher by Rs 218, or 0.56 per cent, at Rs 38,962 per kg in 853 lots.

With the dollar slipping against a basket of major currencies, market analysts said, fresh positions created by participants in line with a firm trend in global markets mainly influenced silver prices in futures trade.

Meanwhile, silver rose 0.09 per cent to USD 16.85 an ounce in Singapore.

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