Gold futures spurt Rs 194, silver futures climb Rs 302 on global cues

By: | Published: August 9, 2017 11:30 AM

Gold rose by Rs 194 to Rs 28,573 per 10 grams in futures trading today as speculators enlarged their positions, tracking a firming trend overseas.

Gold, silver, Gold price, Silver price, Gold trading, Silver trading, Market news, new gold price, new price silver, Latest news, Recent news, India newsAnalysts said fresh positions created by participants amid firming trend in global markets amid rising tensions between the US and North Korea, raising the appeal of the precious metals as a safe-haven, influenced silver prices at futures trade here. (Reuters)

Gold rose by Rs 194 to Rs 28,573 per 10 grams in futures trading today as speculators enlarged their positions, tracking a firming trend overseas. At the Multi Commodity Exchange, gold for delivery in October spurted Rs 194, or 0.68 per cent, to Rs 28,573 per 10 grams, in a business turnover of 761 lots. Similarly, the metal for delivery in far-month December was also trading higher by Rs 185, or 0.65 per cent, to Rs 28,580 per 10 grams in 13 lots. Market analysts said speculators widened their bets in sync with a firming global trend amid rising tensions between the US and North Korea, raising the demand for the precious metals as a safe-haven, influenced gold futures here. Globally, gold climbed 2.29 per cent to USD 1,264.40 an ounce in Singapore today.

Tracking a firming trend overseas, silver prices rose by Rs 302 to Rs 37,801 per kg in futures trading today as traders built up fresh positions. At the Multi Commodity Exchange, silver for delivery in September rose by Rs 302, or 0.81 per cent, to Rs 37,801 per kg, with a business turnover of 1,087 lots. Similarly, the white metal for delivery in far-month December gained Rs 272, or 0.71 per cent, to Rs 38,354 per kg in 17 lots. Analysts said fresh positions created by participants amid firming trend in global markets amid rising tensions between the US and North Korea, raising the appeal of the precious metals as a safe-haven, influenced silver prices at futures trade here. Meanwhile, silver rose 0.43 per cent to USD 16.50 an ounce in Singapore today.

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