Silver, gold futures take gain forward

NEW DELHI: Tracking a firming trend in the precious metals overseas, silver prices traded higher by Rs 97 to Rs 42,512 per kg in futures trade today as speculators raised their bets.

In futures trading at the Multi Commodity Exchange, silver for delivery in December shot up by Rs 97 or 0.23 per cent to Rs 42,512 per kg in a business turnover of 865 lots.

The white metal for delivery in March 2017 too was trading higher by Rs 88 or 0.20 per cent to Rs 42,292 per kg in 14 lots.

Market analysts said fresh position created by participants, driven by firm global trend, supported the upside in silver prices in futures trade here.

Meanwhile, silver climbed 0.37 per cent to USD 17.81 an ounce in Singapore.

Gold
Continuing its winning run, gold prices rose by another Rs 32 to Rs 29,866 per 10 gram in futures trade amid a firm global trend.

At Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 32 or 0.11 per cent to Rs 29,866 per 10 gram in a business turnover 270 lots.

On similar lines, the yellow metal for delivery in February next year gathered another Rs 21 or 0.07 per cent to Rs 29,828 per 10 gram in 8 lots.

Analysts attributed persistent rise in gold prices at futures trade to a firming trend overseas and ongoing festive and wedding season demand from jewellers in the domestic spot market.

Meanwhile, gold edged higher 0.03 per cent to USD 1,267.10 an ounce in Singapore.