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Gold prices were trading higher by Rs 111 to Rs 30,281 per 10 grams at the futures trade as speculators widened their positions due to positive cues from global markets.
At the Multi Commodity Exchange, gold for delivery in October was trading higher by Rs 111, or 0.37 per cent, at Rs 30,281 per 10 grams, in a business turnover of 297 lots. The metal for delivery in far-month December, too, rose Rs 91, or 0.30 per cent, to Rs 30,488 per 10 grams, in a turnover of 14 lots.
Analysts said raising of bets by participants, tracking a firm trend in global market, influenced gold prices at the futures trade. Globally, gold rose 0.37 per cent to $1,204 an ounce in Singapore.
Silver prices soared Rs 122 to Rs 36,983 per kg at the futures trade as speculators widened their bets on firm global cues.
At the Multi Commodity Exchange, silver for delivery in September shot up Rs 122 or 0.33 per cent to Rs 39,683 per kg in a business turnover of 285 lots. The white metal for delivery in far-month December was trading higher by Rs 118 or 0.31 per cent at Rs 37,807 per kg in 184 lots.
Market analysts said speculative positions created by participants, driven by a firm global trend, mainly supported the upside in silver prices at the futures trade. Globally, silver rose 0.38 per cent to $14.57 an ounce in Singapore.
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