New Delhi: Gold prices rose by Rs 89 to Rs 26,308 per 10 grams in futures trade as speculators enlarged positions even as the metal weakened overseas. At the Multi Commodity Exchange, gold for delivery in April was up by Rs 89, or 0.34 per cent, to Rs 26,308 per 10 grams in a business turnover of 645 lots.
The metal for delivery in June moved up by Rs 37, or 0.29 per cent, to Rs 26,642 per 10 grams in a turnover of 48 lots. Analysts said the rise in the gold prices at futures trade was mostly on the back of fresh positions built up by speculators even as the metal weakened for the second day in global markets. Meanwhile, gold traded 0.3 per cent lower at USD 1,206.48 an ounce in Singapore.
Silver prices spurted by Rs 249 to Rs 36,623 per kg in futures trade on February 18 after investors created positions amid a weak trend overseas. At the Multi Commodity Exchange, silver for delivery in March rose sharply by Rs 249, or 0.68 per cent, to Rs 36,623 per kg in a business turnover of 1,043 lots. On similar lines, the white metal for delivery in May was trading higher by Rs 224, or 0.61 per cent, to Rs 36,898 per kg in 37 lots.
Analysts attributed the rise in silver prices at futures trade to speculative positions created by participants despite a weak trend in the precious metals overseas on signs of weaker demand in China and speculation that Greece will ease a standoff with creditors by asking for a loan extension. Globally, silver dropped 0.40 per cent to USD 16.46 an ounce in Singapore on February 18.
