Gold prices rose Rs 44 to Rs 30,750 per 10 grams at the futures trade as speculators raised their bets even as the precious metals weakened overseas.

At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 44 or 0.14 per cent at Rs 30,750 per 10 grams in a business turnover of four lots.

Gold for October delivery was also up by Rs 26 or 0.09 per cent at Rs 30,520 per ten grams in a business volume of 207 lots.

Market analysts attributed the rise in gold futures to widening of positions by participants but a weak trend overseas capped the gains.

Gold fell 0.30 per cent to $1,192.60 an ounce in Singapore, as the dollar firmed eroding demand for the precious metal as a safe haven amid expectations of US Federal Reserve interest rate hike in September and fears of escalating trade tensions between the US and China.

Silver prices inched higher by Rs 33 to Rs 37,200 per kg at the futures trade as speculators widened their bets despite a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in December rose Rs 33 or 0.09 per cent to Rs 37,200 per kg in a business turnover of 405 lots. The white metal for delivery in March next year was trading higher by Rs 27 or 0.15 per cent at Rs 37,952 per kg in five lots.

Market analysts said speculative position created by participants influenced silver futures prices but a weak trend overseas, reducing the appeal for precious metals as a safe haven. Globally, silver fell 0.53 per cent to $14.09 an ounce in Singapore.

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