4 days ago
Gold and Silver Prices Rise in Futures Trading
Gold and silver prices went up in futures trading on Friday.
Futures are contracts to buy or sell something at a later time.
Gold for October delivery became more expensive on the Multi Commodity Exchange.
Its price rose to Rs 1,54,290 for 10 grams.
Silver for December delivery also became more expensive.
Its price reached Rs 2,41,183 per kilogram.
Analysts said new positions taken by traders helped lift both prices.
Gold also benefited from strong demand in the regular market, while silver followed a firm global trend.
Gold futures for October delivery rose Rs 1,309, or 0.86%, to Rs 1,54,290 per 10 grams on the MCX.
Fresh positions by market participants and firm spot demand supported the rise in gold prices.
International gold futures increased 1.16% to USD 4,392.24 per ounce in New York.
Silver futures for December delivery advanced Rs 2,978, or 1.25%, to Rs 2,41,183 per kilogram on the MCX.
International silver futures rose 2.39% to USD 66.78 per ounce amid a firm global trend.
- Who
- Market participants and speculators traded gold and silver futures; analysts attributed the increases to fresh positions.
- What
- Gold and silver futures prices rose on the Multi Commodity Exchange.
- Where
- On the Multi Commodity Exchange, with corresponding gains in international markets in New York.
- When
- Friday.
- Why
- Gold was supported by fresh positions and firm spot demand, while silver was supported by fresh positions and a firm global trend.
Key facts
- Gold October futures
- Rs 1,54,290 per 10 grams
- Gold price change
- Up Rs 1,309, or 0.86%
- Gold turnover
- 2,156 lots
- International gold futures
- Up 1.16% to USD 4,392.24 per ounce
- Silver December futures
- Rs 2,41,183 per kilogram
- Silver price change
- Up Rs 2,978, or 1.25%
- Silver turnover
- 3,082 lots
- International silver futures
- Up 2.39% to USD 66.78 per ounce
Sources
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