Gold Prices Rise Rs 1,353 to Rs 1.47 Lakh per 10 Grams; Silver Gains Rs 561
Gold futures rose 0.93% to Rs 1,47,201 per 10 grams on the MCX on Thursday, supported by fresh positions and firm spot demand. Silver futures also gained 0.27% to Rs 2,08,899 per kg amid positive global cues.
Gold prices rose by Rs 1,353 to Rs 1,47,201 per 10 grams in futures trade on Thursday, supported by fresh positions created by speculators amid firm spot demand. Silver prices also edged higher, tracking a positive trend in international markets.
On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed Rs 1,353, or 0.93 per cent, to Rs 1,47,201 per 10 grams. The contract recorded a business turnover of 1,567 lots.
Market analysts attributed the rise in gold prices to fresh position-building by participants, supported by firm demand in the spot market. In international trade, gold futures rose 0.81 per cent to USD 4,138.72 per ounce in New York, reflecting the positive momentum in the precious metal.
Silver futures also recorded gains on Thursday. On the MCX, silver contracts for December delivery advanced by Rs 561, or 0.27 per cent, to Rs 2,08,899 per kilogram, with a business turnover of 3,125 lots.
Analysts said fresh positions taken by market participants contributed to the rise in silver prices amid a firm global trend. In the overseas market, silver futures increased 0.61 per cent to USD 55.89 per ounce. Both precious metals traded higher in domestic and international markets, supported by fresh buying activity and positive global cues.
