1 week ago
Gold and Silver Rise in Futures Trade Amid Demand
Gold and silver prices went up in futures trading on Wednesday.
Futures are contracts to buy or sell something at a later time.
Gold for October delivery rose to Rs 1,62,997 per 10 grams.
Silver for September delivery rose to Rs 2,45,411 per kilogram.
Analysts said traders created fresh positions, helping prices rise.
Firm demand also supported gold.
In overseas trading, gold prices went down in New York.
Silver prices rose in the international market.
Gold futures for October delivery rose Rs 115, or 0.07%, to Rs 1,62,997 per 10 grams on the MCX.
The gold contract recorded a business turnover of 674 lots amid fresh positions and firm spot demand.
Silver futures for September delivery climbed Rs 1,284, or 0.53%, to Rs 2,45,411 per kg.
Silver futures recorded a business turnover of 1,093 lots as participants built fresh positions.
Internationally, gold futures fell 0.30% to USD 4,643.42 per ounce, while silver futures rose 0.73% to USD 69.16.
- Who
- Market participants, speculators and analysts were involved in the futures trading.
- What
- Gold and silver futures prices increased on the Multi Commodity Exchange, although overseas gold futures declined.
- Where
- On the Multi Commodity Exchange; international gold futures traded in New York and international silver futures were also reported.
- When
- Wednesday.
- Why
- Fresh positions by market participants supported both metals, while firm spot demand supported gold and a firm global trend supported silver.
Key facts
- Gold price
- Rs 1,62,997 per 10 grams for October delivery
- Gold change
- Up Rs 115, or 0.07%
- Silver price
- Rs 2,45,411 per kg for September delivery
- Silver change
- Up Rs 1,284, or 0.53%
- Gold turnover
- 674 lots
- Silver turnover
- 1,093 lots
- International prices
- Gold futures fell 0.30% to USD 4,643.42 per ounce; silver futures rose 0.73% to USD 69.16 per ounce
Sources
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