Gold Gains Rs 1,309; Silver Climbs Rs 2,978 On MCX
Gold prices rose Rs 1,309 to Rs 1,54,290 per 10 grams in futures trade on Friday amid fresh positions by speculators and firm spot demand. On the Multi Commodity Exchange (MCX), the gold contract for October delivery climbed Rs 1,309, or 0.86 per cent, to Rs 1,54,290 per 10 grams. The contract recorded a business turnover of 2,156 lots.
Fresh positions built by market participants supported the rise in gold prices, analysts said. In the international market, gold futures rose 1.16 per cent to USD 4,392.24 per ounce in New York. Silver prices also gained 1.25 per cent to Rs 2,41,183 per kg in futures trade on the MCX, supported by a firm global trend.
The silver contract for December delivery advanced Rs 2,978, or 1.25 per cent, to Rs 2,41,183 per kg, with a business turnover of 3,082 lots. Fresh positions by participants led to the rise in silver prices, analysts said. In the overseas market, silver futures rose 2.39 per cent to USD 66.78 per ounce.
