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Gold prices moved up by Rs 104, or 0.38 per cent, to Rs 27,262 per 10 gm in futures trade today as speculators engaged in building up positions taking positive cues from the global market amid firm spot demand. Silver prices also rose by Rs 178 to Rs 45,250 per kg in futures trade.
Besides, rising demand in spot markets also supported the upside in silver.
At the Multi Commodity Exchange, gold for delivery in June was up by Rs 104, or 0.38 per cent, to Rs 27,262 per 10 gm in business turnover of 2,994 lots. While silver for delivery in September rose by Rs 178, or 0.39 per cent to Rs 45,250 per kg in business turnover of 142 lots.
Gold for delivery in far-month August contracts moved up by Rs 71, or 0.26 per cent, to Rs 27,474 per 10 gm in a turnover of 1,629 lots. Likewise, the white metal for delivery in July contracts traded higher by Rs 254, or 0.35 per cent to Rs 44,575 per kg in 2,559 lots.
Analysts said a firming trend in global market, where gold climbed a two-week high on speculation that the US Federal Reserve will maintain record stimulus to bolster growth, influenced both gold and silver prices at futures trade here.
Meanwhile, gold rose by 0.60 per cent to $1,422.10 an ounce while silver was up 0.40 per cent at $22.88 an ounce in Singapore.
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