home Latest News Precious Metals: Gold, silver futures up on higher demand – Economic Times

Precious Metals: Gold, silver futures up on higher demand – Economic Times

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New Delhi: Gold prices edged up by Rs 74 to Rs 34,775 per 10 gram at futures trade Friday on firm demand by local jewellers at the spot market.

However, weak global sentiment capped the gains.

On the Multi Commodity Exchange, gold contracts for August delivery were up by Rs 74, or 0.21 per cent, to trade at Rs 34,775 per 10 gram in a business turnover of 17,397 lots.

According to analysts, raising of bets by speculators at current levels mainly pushed up gold prices at futures trade here, but a subdued trend overseas limited the gains.

Globally, gold was trading 0.19 per cent lower at USD 1,409.40 an ounce in New York.

Silver

Silver prices rose Rs 118 to Rs 38,231 per kg in futures trade Friday as speculators raised their bets tracking a firm trend in overseas market.

On the Multi Commodity Exchange, silver contracts for September delivery were trading higher by Rs 118, or 0.31 per cent, at Rs 38,231 per kg in a business turnover of 18,750 lots.

The white metal for delivery in December rose by Rs 108, or 0.28 per cent, to Rs 38,940 per kg in 640 lots.

In the international market, silver rose 0.22 per cent to USD 15.18 an ounce in New York.