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Gold prices rose by Rs 52 to Rs 29,995 per 10 grams in futures trade today as speculators raised their bets amid a firm global trend.
At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 52 or 0.17 per cent to Rs 29,995 per 10 grams in a business turnover of 85 lots. The far—month December contract of gold was up by Rs 51, or 0.17 per cent, to Rs 30,140 per ten grams in a business volume of two lots. Gold rose by 0.33 per cent to USD 1,331.40 an ounce in New York.
Similarly, tracking a firming trend in the precious metals overseas, silver prices soared by Rs 101 to Rs 41,824 per kg in futures trade today as speculators widened their bets. In futures trading at the Multi Commodity Exchange, silver for delivery in far—month March next year contracts shot up by Rs 101 or 0.24 per cent to Rs 41,824 per kg in a business turnover of 2 lots. The white metal for delivery in December was trading higher by Rs 61 or 0.15 per cent to Rs 41,277 per kg in 184 lots. Globally, silver rose 0.70 per cent to USD 17.88 an ounce in New York yesterday.
Widening of positions by participants, driven by firm global trend, mainly influenced gold and silver futures prices, said market analysts.
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