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Gold prices rose Rs 40 to Rs 28,182 per ten gram at the futures trade as speculators widened their bets. However, prices were almost unchanged in global markets ahead of the outcome of a two-day meeting of the US Federal Reserve.
At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 40 or 0.14 per cent at Rs 28,182 per ten gram in a business turnover of 85 lots.
Analysts said raising of bets by participants at current levels, mainly pushed up gold prices at the futures trade here but a steady trend overseas capped the gains. Globally, gold was trading at $1,243.50 an ounce in Singapore.
Silver futures
Silver prices rose Rs 104 at Rs 36,833 per kg at the futures trade as speculators built up positions even as the metal weakened overseas.
At the Multi Commodity Exchange, silver for delivery in March rose Rs 104 or 0.28 per cent to Rs 36,833 per kg in a business turnover of 221 lots. The metal for delivery in May was also trading higher by Rs 32 or 0.09 per cent at Rs 37,333 per kg in 4 lots.
Analysts said the rise in silver prices at the futures trade was due to building up of positions by participants. However, global markets displayed a weak trend with investors remaining in ‘wait-and-see’ mode ahead of the outcome of a two-day meeting of the US Federal Reserve.
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