Gold prices were up by Rs 36 to Rs 29,380 per 10 grams in futures trade today as speculators raised their bets amid positive global cues. At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 36, or 0.12 per cent, to Rs 29,380 per 10 grams in a business turnover of 617 lots. The yellow metal for delivery in far-month February next year gained Rs 26, or 0.09 per cent, to Rs 29,481 per 10 grams in 3 lots. Market analysts attributed the rise in gold prices at futures trade to a better trend in global market where it extended gains as geopolitical risks, drove investors to safe-haven assets. Besides, a weaker Us dollar against the major basket of currencies also fuelled the uptrend, they added. Meanwhile, gold was trading 0.95 per cent higher at USD 1,281.50 an ounce in New York yesterday. Taking weak cues from overseas markets, silver prices eased by Rs 61 to Rs 40,473 per kg in futures trading today, as participants cut down their bets.
At the Multi Commodity Exchange, silver for delivery in far-month March next year dropped by Rs 61, or 0.15 per cent, to Rs 40,473 per kg, in a business turnover of 49 lots. Similarly, the white metal for delivery in December was trading lower by Rs 60, or 0.15 per cent, to Rs 39,835 per kg in 2,148 lots. Traders said, offloading of positions by participants in line with a weak global trend, mainly led to the fall in silver prices at futures trade. Globally, silver shed 0.49 per cent to USD 17.11 an ounce in Singapore today.