Gold futures were up by 0.09 per cent at Rs 30,040 per 10 grams as traders raised their bets even as the precious metal weakened overseas.

At the Multi Commodity Exchange, gold for delivery in October rose Rs 28 or 0.09 per cent to Rs 30,040 per 10 grams in a business turnover of 12 lots. Similarly, the metal for delivery in August traded higher by Rs 20 or 0.07 per cent to Rs 29,786 per 10 grams in 172 lots.

Analysts said raising of bets by speculators largely pushed up gold prices at the futures trade, but a weak trend overseas capped the gains. Meanwhile, gold fell 0.24 per cent to $1,224.20 an ounce in Singapore.

Silver prices declined by Rs 48 to Rs 38,390 per kg at the futures trade as participants trimmed their positions owing to weak global cues.

At the Multi Commodity Exchange, silver for delivery in September was trading lower by Rs 48 or 0.12 per cent at Rs 38,390 per kg in a business turnover of 609 lots. In the international market, silver was trading 0.52 per cent down at $15.44 an ounce in Singapore.

Marketmen attributed the fall in silver prices at the futures trade to a weak trend in precious metals overseas and profit-booking by speculators.

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