Comments
Tracking a firm global trend, gold prices moved up by 0.17 per cent to Rs 29,547 per 10 grams at the futures trade due to building up of fresh positions by speculators.
At the Multi Commodity Exchange, gold for delivery in October went up by Rs 50 or 0.17 per cent to Rs 29,547 per ten grams in a business turnover of 108 lots.
Market analysts said fresh positions were created by traders in sync with a firm global trend, where gold prices rose on the back of a weaker US dollar after US President Donald Trump said he was not thrilled with the US Federal Reserve for raising interest rates.
Globally, gold rose 0.33 per cent to $1,194 an ounce in Singapore.
Taking positive cues from overseas markets, silver prices traded higher by 0.37 per cent at Rs 36,913 per kg at the futures trade due to creation of fresh positions by speculators.
At the Multi Commodity Exchange, silver for delivery in September rose Rs 135 or 0.37 per cent to Rs 36,913 per kg in a business turnover of 326 lots. Similarly, the white metal for delivery in December traded higher by Rs 138, or 0.37 per cent, at Rs 37,738 per kg in 6 lots.
Market analysts said fresh positions built up by traders in tandem with a firm global trend influenced silver prices at the futures trade. Meanwhile, silver rose 0.31 per cent to $14.78 an ounce in Singapore.
Comments
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.