1. Gold rises 0.16 per cent; Silver climb 0.65 per cent in futures trade on firm global cues

Gold rises 0.16 per cent; Silver climb 0.65 per cent in futures trade on firm global cues

Gold prices rose 0.16 per cent to Rs 28,157 per 10 grams in futures trade as participants created fresh positions, tracking a firm trend overseas. Tracking a firm trend overseas, silver prices were sharply trading up by Rs 249 to Rs 38,844 per kg in futures trade today as traders built up fresh positions.

By: | Published: May 15, 2017 12:03 PM
Globally, gold rose 0.23 per cent to USD 1,230.50 an ounce in Singapore today.

Gold prices rose 0.16 per cent to Rs 28,157 per 10 grams in futures trade as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in August rose by Rs 44, or 0.16 per cent, to Rs 28,157 per 10 grams in a business turnover of 1 lot.

Likewise, the yellow metal for delivery in June moved up by Rs 31, or 0.11 per cent, to Rs 28,036 per 10 grams in 191 lots. Analysts said fresh positions built up by traders in line with a firm global trend as weaker-than-expected economic data from the US pressured the dollar and raised appeal of the precious metals as a safe haven.

Globally, gold rose 0.23 per cent to USD 1,230.50 an ounce in Singapore today.

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Tracking a firm trend overseas, silver prices were sharply trading up by Rs 249 to Rs 38,844 per kg in futures trade today as traders built up fresh positions. At the Multi Commodity Exchange, silver for delivery in September went up by Rs 249, or 0.65 per cent, to Rs 38,844 per kg in a business turnover of two lots.

Similarly, the white metal for delivery in July was trading higher by Rs 213, or 0.56 per cent, to Rs 38,368 per kg in 417 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 0.49 per cent to USD 16.52 an ounce in Singapore today.

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