Gold prices in India rose marginally on October 19, with 24-karat gold at ₹1,47,893 per 10 grams, while silver prices also gained amid heightened US-Iran tensions and concerns over a possible resumption of hostilities.

Gold prices rose by Rs 436 to Rs 1,48,354 per 10 grams in futures trade on Monday, supported by firm spot demand and fresh position-building by speculators. On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed Rs 436, or 0.29 per cent, to Rs 1,48,354 per 10 grams. The contract recorded a business turnover of 16,711 lots.

Analysts attributed the rise in gold prices to fresh positions taken by market participants amid firm demand in the spot market. In the overseas market, gold futures advanced 0.45 per cent to USD 4,199.80 per ounce in New York. Silver prices also edged higher on Monday, supported by a firm trend in global markets. 

On the MCX, silver futures for December delivery rose Rs 128, or 0.06 per cent, to Rs 2,11,315 per kilogram, with a business turnover of 20,162 lots. Analysts said fresh positions built by market participants contributed to the marginal increase in silver prices. 

In the international market, silver futures gained 0.35 per cent to USD 57.66 per ounce.

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