Gold price rises 0.36 pct while Silver price moves up 0.92 pct on global cues

Feb 06 2014, 12:32 IST
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SummaryGold prices rose by 0.36 per cent to Rs 28,490 per ten gram in futures trading today as speculators created fresh positions, tracking a firming global trend.

Gold prices rose by 0.36 per cent to Rs 28,490 per ten gram in futures trading today as speculators created fresh positions, tracking a firming global trend.

At the Multi Commodity Exchange, gold for delivery in far-month June rose by Rs 101, or 0.36 per cent to Rs 28,490 per ten gram in business turnover of 52 lots.

Similarly, the yellow metal for delivery in April gained Rs 80, or 0.28 per cent to Rs 28,795 per ten gram in 1960 lots.

Analysts attributed the rise in gold prices at futures trade to a firming trend in the overseas markets on speculation that the US economic recovery may be stalling, boosted demand for the precious metal.

Meanwhile, gold traded marginally higher at 1,257.96 dollar an ounce from 1,257.92 dollar yesterday in Singapore.

Silver prices moved up by 0.92 per cent to Rs 44,799 per kg in futures market today as speculators enlarged their positions amid a firming trend overseas.

At the Multi Commodity Exchange, silver for delivery in March moved up by Rs 407, or 0.92 per cent to Rs 44,799 per kg in business turnover of 2,811 lots.

Likewise, the white metal for delivery in May contracts traded higher by Rs 383, or 0.84 per cent to Rs 45,734 per kg in 81 lots.

Analysts said the rise in silver prices at futures trade was mostly attributed to a firming trend in the global markets.

Meanwhile, silver climbed 0.2 per cent to 19.93 dollar an ounce in Singapore.

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