New Delhi: Gold prices rose by Rs 95 to Rs 27,875 per 10 grams in futures trade on August 28 as speculators enlarged positions taking positive cues from overseas markets. At the Multi Commodity Exchange, gold for delivery in October moved up by Rs 95, or 0.34 per cent, to Rs 278,875 per 10 grams, with a business turnover of 150 lots.
Similarly, the metal for delivery in far-month December contracts was up by Rs 76, or 0.27 per cent, to Rs 28,002 per 10 grams, with a trade volume of three lots. Marketmen said speculators enlarged their positions, tracking a firming trend overseas on increased tensions in Ukraine and as the dollar weakened, countering concern that US interest rates could increase sooner than expected because of the strengthening economy, mainly led to a rise in gold futures.
Globally, gold in Singapore traded 0.30 per cent higher at USD 1,286.30 an ounce in Singapore in early trade on August 28.
Silver prices went up by Rs 207 to Rs 42,140 per kg in futures trade on August 28 after participants built-up speculative positions, largely driven by a firming trend overseas.
At the Multi Commodity Exchange, silver for delivery in September shot up by Rs 207, or 0.49 per cent, to Rs 42,140 per kg in a business turnover of 410 lots. Similarly, the white metal for delivery in December rose by Rs 191, or 0.45 per cent, to Rs 42,853 per kg in 88 lots. Market analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as tension in Ukraine escalated, boosting demand for a safe haven.
Meanwhile, silver advanced 0.30 per cent to USD 19.52 an ounce in Singapore.
