Gold prices climbed 0.72 per cent to Rs 28,398 per 10 grams at the futures trade as speculators built up fresh positions tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in February rose Rs 203 or 0.72 per cent to Rs 28,398 per ten grams in a business turnover of 684 lots. Likewise, the yellow metal for delivery in April was trading higher by Rs 193 or 0.68 per cent at Rs 28,425 per ten grams in 34 lots.
Analysts said fresh positions created by participants in line with a firm trend overseas, where gold inched up as the dollar was nearly unchanged after tumbling in the previous session following the US Federal Reserve’s widely expected decision to raise interest rates, mainly influenced gold prices at the futures trade. Globally, gold rose 0.17 per cent to $ 1,257.50 an ounce in Singapore.
Silver prices rose 1.43 per cent to Rs 37,494 per kg at the futures trade as speculators raised their bets due to a firm global trend.
At the Multi Commodity Exchange, silver for delivery in March climbed Rs 527 or 1.43 per cent to Rs 37,494 per kg in a business turnover of 1,592 lots. Similarly, the white metal for delivery in May was trading higher by Rs 529 or 1.41 per cent at Rs 37,952 per kg in 13 lots.
Analysts said widening of positions by traders in tandem with a firm trend in global markets for precious metals, influenced silver prices at the futures trade. Globally, silver was trading higher by 0.22 per cent at $16.08 an ounce in Singapore today.