Comments
Gold prices went up by 1.56 per cent to Rs 31,070 per 10 grams at the futures trade on Wednesday due to creation of fresh positions by speculators on positive global trend.
At the Multi Commodity Exchange, gold for delivery in October shot up Rs 478 or 1.56 per cent, to Rs 31,070 per ten grams in a business turnover of 12 lots. Similarly, the yellow metal for delivery in far-month December was trading higher Rs 453 or 1.45 per cent at Rs 31,410 per ten grams in 871 lots.
Market analysts said fresh positions were created by traders in sync with a firm global trend as demand for riskier assets picked up after the US and Canada reached an agreement to salvage a North American free trade deal. Globally, gold rose 0.32 per cent to $1,207.60 an ounce in Singapore.
Buoyed by positive global cues, silver prices climbed 2 per cent to Rs 39,213 per kg at the futures trade. At the Multi Commodity Exchange, silver for delivery in December was trading higher by Rs 768 or 2 per cent at Rs 39,213 per kg in a business turnover of 1,814 lots.
Likewise, the white metal for delivery in far-month March next year soared Rs 746 or 1.90 per cent to Rs 39,926 kg in 44 lots.
Analysts said large positions created by participants in tandem with a firm global trend, led to the rise in silver prices at the futures trade. Globally, silver rose 0.68 per cent to $14.87 an ounce in Singapore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.