Gold Rises Rs 817 to Rs 1.42 Lakh per 10 Grams; Silver Gains Rs 931
Firm spot demand, fresh positions by speculators and positive global cues lift gold and silver futures on the MCX.
Gold prices rose by Rs 817 to Rs 1,42,841 per 10 grams in futures trade on Monday, supported by fresh positions created by speculators amid firm spot demand and a positive trend in the global market. On the Multi Commodity Exchange (MCX), gold futures for December delivery climbed Rs 817, or 0.58 per cent, to Rs 1,42,841 per 10 grams. The contract recorded a business turnover of 811 lots.
Market analysts attributed the rise in gold prices to fresh positions built by participants, reflecting buying interest in the precious metal.In overseas trade, gold futures rose 0.47 per cent to USD 4,014.81 per ounce in New York, tracking gains in the international market.
Silver prices also advanced on Monday, supported by a firm global trend. On the MCX, silver futures for December delivery increased by Rs 931, or 0.48 per cent, to Rs 1,96,650 per kilogram. The contract recorded a business turnover of 1,622 lots. Analysts said fresh positions created by market participants contributed to the rise in silver prices.
In the international market, silver futures gained 0.70 per cent to USD 54.26 per ounce. Both precious metals traded higher, with domestic futures prices supported by fresh buying activity and positive cues from overseas markets.
