Gold, silver futures rise on positive global cues

 

Gold prices rose 0.19 per cent to Rs 30,550 per 10 grams at the futures trade due to widening of positions by speculators on positive global cues.

At the Multi Commodity Exchange, gold for delivery in August went up by Rs 57 or 0.19 per cent at Rs 30,550 per ten gram in a business turnover of 239 lots. Similarly, the yellow metal for delivery in October was trading higher by Rs 56 or 0.18 per cent at Rs 30,830 per ten gram in 13 lots.

Market analysts said widening of positions by traders in sync with a firm global trend mainly influenced gold prices at the futures trade. Globally, gold rose 0.31 per cent to $1256.20 an ounce in Singapore.

Silver prices traded higher by 0.30 per cent at Rs 39,828 per kg at the futures trade as speculators raised their bets on firm global cues.

At the Multi Commodity Exchange, silver for delivery in September went up by Rs 118 or 0.30 per cent to Rs 39,828 per kg in a business turnover of 357 lots. Likewise, the white metal for delivery in July gained Rs 78 or 0.20 per cent to Rs 39,156 per kg in 5 lots.

Market analysts said speculative position created by participants owing to a firm global trend influenced prices at the futures trade. Meanwhile, silver rose 0.31 per cent to $16.05 an ounce in Singapore.

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