Gold & Silver

Gold futures rise to Rs 30,622 on firm global cues

PTI New Delhi | Updated on July 09, 2018 Published on July 09, 2018

Silver futures up at Rs 39,903 kg

Gold prices went up by 0.2 per cent to Rs 30,622 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 August moved up by Rs 62 or 0.20 per cent to Rs 30,622 per ten grams in a business turnover of 167 lots. Similarly, the yellow metal for delivery in October was trading higher by Rs 38, or 0.12 per cent, at Rs 30,900 per ten grams in 5 lots.

Market analysts said traders created fresh positions in line with a firm global trend as investors covered their short positions and the dollar slipped to its weakest since mid-June, while lingering US-Sino trade tensions supported the bullion as well. Globally, gold rose 0.33 per cent to $1,258.70 an ounce in Singapore.

Silver prices rose 0.34 per cent to Rs 39,903 kg at the futures trade as speculators created fresh positions.

At the Multi Commodity Exchange, silver for delivery in September gained Rs 137, or 0.34 per cent, to Rs 39,903 per kg in a business turnover of 583 lots. Likewise, the white metal for delivery in July contracts was trading higher by Rs 130, or 0.32 per cent, at Rs 40,737 per kg in 7 lots.

Analysts said fresh positions built up by participants in tandem with a firm global trend, led to the rise in silver prices at the futures trade. Globally, silver rose 0.53 per cent to $16.10 an ounce in Singapore.

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Published on July 09, 2018
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