Gold prices were trading up by Rs 94 to Rs 28,647 per 10 grams in futures trade today as speculators raised bets amid firm global trend. At the Multi Commodity Exchange, gold for delivery in August was trading higher by Rs 94, or 0.33 per cent, to Rs 28,647 per 10 grams in a business turnover of 427 lots.
The yellow metal for delivery in October gained Rs 90, or 0.31 per cent, to Rs 28,807 per 10 grams in 15 lots. Market analysts attributed the rise in gold prices at futures trade to positive global cues as the dollar dropped and US equities weakened, drawing investors’ attention to precious metal.
Meanwhile, gold was trading higher 0.38 per cent at USD 1,251.88 an ounce in Singapore.
Silver prices went up by a whopping Rs 349 to Rs 38,704 per kg in futures trading today as participants widened positions, tracking a firm trend in global market. At the Multi Commodity Exchange, silver for delivery in July was trading notably higher by Rs 349, or 0.91 per cent, to Rs 38,704 per kg, in a business turnover of 1,258 lots.
Similarly, the white metal for delivery in September was up by Rs 343, or 0.88 per cent, to Rs 39,145 per kg in 187 lots. Analysts said, a firming trend overseas where silver rallied as weakness in the dollar raised demand for the precious metals as a safe-haven, mainly influenced the white metal prices at futures trade.
Globally, silver rose 0.80 per cent to USD 16.79 an ounce in Singapore.