Precious Metals: Silver, Gold rise in futures trade amid high demand

Gold prices on Monday jumped Rs 401 to Rs 43,067 per 10 gram in futures trade as speculators increased their bets tracking positive trend overseas.

On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 401, or 0.94 per cent, to Rs 43,067 per 10 gram in a business turnover of 2,117 lots.

The yellow metal for June delivery edged up by Rs 406, or 0.95 per cent, to Rs 43,269 per 10 gram in a business turnover of 125 lots.


Fresh positions built up by participants on positive cues from global markets mainly led to rise in gold prices, analysts said.

Globally, gold prices rose 0.93 per cent to $1,664.20 per ounce in New York.

Silver
Silver prices on Monday rose Rs 267 to Rs 48,571 per kg in futures trade as participants widened their bets amid a firm trend in the precious metal overseas.

On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 267, or 0.55 per cent, to Rs 48,571 per kg in 3,142 lots.

Similarly, the white metal for May delivery was trading higher by Rs 258, or 0.53 per cent, at Rs 49,163 per kg in 345 lots.

Traders said fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures.

In the international market, silver was quoting 0.44 per cent higher at $18.70 an ounce in New York.