New Delhi: Gold futures traded a shade higher at Rs 27,030 per ten gram, as speculators indulged in building up fresh positions amid a firming trend overseas before the US Federal Reserve begins a two-day policy meeting today.
At the Multi Commodity Exchange, metal prices for delivery in October moved up by Rs 31, or 0.11 per cent, to trade higher at Rs 27,030 per ten gram, in a turnover of 77 lots. On the similar lines, the metal prices for delivery in far-month December gained Rs 16, or 0.06 per cent, to Rs 27,231 per 10 gm, in a business volume of one lot.
Analysts attributed gains in the precious metal at futures trade to a firm trend in the overseas markets as investors assessed the health of the US economy before the Federal Reserve begins a two-day policy meeting today. Globally, gold rose 0.40 per cent, to USD 1,238.58 an ounce in Singapore on Tuesday.
Taking positive cues from overseas market, silver prices rose by 0.39 per cent to Rs 41,562 per kg in futures trade today 52,097 per kg, as speculators enlarged positions. At the Multi Commodity Exchange, silver prices for delivery in far-month December contracts were up by Rs 162, or 0.39 per cent, to trade at Rs 41,562 per kg in business turnover of 277 lots.
Market analysts said speculative positions created by participants following gains in the precious metals overseas, as investors assessed the health of the US economy ahead of the Federal Reserve begins a two-day policy meeting today, mainly influenced silver prices at futures trade here.
Globally, silver climbed 0.3 per cent to USD 18.72 an ounce in Singapore on Tuesday.
