New Delhi: Gold prices rose by 0.86 per cent to Rs 26,812 per 10 grams in futures trade today as speculators created fresh positions, taking positive cues from the global market.
At the Multi Commodity Exchange, gold for delivery in February moved up by Rs 228, or 0.86 per cent, to Rs 26,812 per 10 grams in a business turnover of 1,043 lots. The metal for delivery in far-month April 2015 was trading higher by Rs 224, or 0.83 per cent, to Rs 27,054 per 10 grams in a turnover of one lot.
Analysts said a firming trend in global market where gold advanced as prices neared the lowest level in three weeks encouraged purchases and influenced the precious metal here in futures trade. Meanwhile, gold rose as much as one per cent to USD 1,185.09 an ounce in Singapore. I) Taking positive cues from overseas market, silver prices edged higher by 1.34 per cent to Rs 37,570 per kg in futures trade today after speculators enlarged their positions.
At the Multi Commodity Exchange, silver for delivery in May contracts was up by Rs 498, or 1.34 per cent, to Rs 37,570 per kg in business turnover of six lots. Similarly, the white metal for delivery in March month contracts traded higher by Rs 365, or 1.28 per cent, to Rs 36,910 per kg in 976 lots.
Analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metals overseas due to prevailing lower levels encouraging purchases. Meanwhile, silver rebounded as much as 1.5 per cent, its biggest intra-day gain since December 18, to trade at USD 15.95 an ounce in Singapore.
