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Gold prices rose Rs 15 to Rs 31,104 per 10 gram at the futures trade on Friday as speculators raised their bets, taking positive cues from the global markets.
At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 15, or 0.05 per cent, at Rs 31,104 per 10 gram in a business turnover of 13,435 lots. Gold for delivery in February next year was trading up by 0.13 per cent at 31,130 per 10 gram.
In the global markets, gold rebounded to a near five-month peak on Thursday as the dollar declined amid expectations of a slowdown in the pace of US interest rate hikes. In the domestic market, prices were up due to increase in demand from local jewellers.
Globally, gold was trading 0.19 per cent higher at $1,240.47 an ounce in Singapore on Friday.
Silver prices rose Rs 186 to Rs 37,404 per kg at the futures trade due to speculative buying by investors owing to positive global cues.
At the Multi Commodity Exchange, silver for delivery in November spurted Rs 186, or 0.50 per cent, to Rs 37,404 per kg in a business turnover of 650 lots. The white metal for delivery in March next year was trading higher by Rs 193, or 0.52 per cent, at Rs 37,411 per kg in 23, 919 lots.
Analysts said speculative buying driven by a firm global trend lifted silver prices. Meanwhile, silver rose 0.94 per cent to $14.53 an ounce in Singapore.
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