Tracking a firm global trend, gold prices traded marginally higher by 0.09 per cent to Rs 31,461 per 10 grams in futures trade today as speculators created fresh position.

The trading sentiment improved after gold rose in global markets on speculation moves by central banks to bolster economic growth will spur demand.

At the Multi Commodity Exchange, gold for delivery in October rose by Rs 28, or 0.09 per cent, to Rs 31,461 per 10 grams in business turnover of 11,091 lots.

Likewise, the yellow metal for delivery in December traded higher by Rs 30, or 0.09 per cent, to Rs 31,758 per 10 grams in 1,601 lots.

Market analysts attributed the rise in gold futures to firm global trend and domestic demand for the marriage season.

In London, gold rose 0.1 per cent to $1,765.70 an ounce.

Silver also trading firm

Amid pick up in domestic demand and firm global trend, silver prices moved up by Rs 199 to Rs 62,611 a kg in futures trading today.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 199, or 0.32 per cent to Rs 62,611 a kg in business turnover of 14,561 lots.

Similarly, the white metal for delivery in March traded higher by Rs 192, or 0.30 per cent, to Rs 64,311 per kg in 403 lots.

Market analysts said besides strong global trend, pick- up in demand in the spot market mainly pushed up silver prices at futures market.

In London, silver rose 0.2 per cent to $34.06 an ounce.

(This article was published on September 25, 2012)
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