Gold prices rose 0.27 per cent in futures trade Wednesday as speculators created fresh positions, taking positive cues from global markets.
Gold prices rose 0.27 per cent in futures trade Wednesday as speculators created fresh positions, taking positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in December was up by Rs 86, or 0.27 per cent, to Rs 31,369 per 10 grams in a trade volume of 24 lots.
The metal for delivery in November moved up Rs 64, or 0.21 per cent, to Rs 31,225 per 10 grams in a turnover of 303 lots.
Market analysts said raising of bets by participants, tracking a firm trend overseas, influenced gold at futures trade here.
Gold was marginally higher at USD 1,190 an ounce in Singapore Wednesday. Meanwhile, silver prices were higher by Rs 72 to Rs 38,716 per kg in futures trading Wednesday as speculators raised bets amid a firm trend in precious metals overseas.
At the Multi Commodity Exchange, silver for delivery in November was trading higher by Rs 72, or 0.19 per cent, at Rs 38,716 per kg in a business turnover of 52 lots.
In a similar fashion, silver for delivery in December up by Rs 62, or 0.16 per cent to Rs 38,682 clocking a business turnover of 312 lots.
Market analysts said fresh positions built by speculators in line with a firm trend in global markets for precious metals influenced silver prices at the futures trade.
Earlier in the day, the battered
rupee rose 23 paise to 74.16 against the US dollar Wednesday after the American currency weakened overseas amid increased selling by exporters.
Besides, RBI's decision to inject Rs 12,000 crore liquidity into the system through purchase of government bonds on October 11 to meet the festival season demand for funds also supported the recovery in rupee, dealers said.
A higher opening of domestic equity markets too aided the recovery in the domestic unit.
The benchmark BSE Sensex rose 110.20 points or 0.31 per cent, to 34,409.67 in opening trade.
At the forex market, the rupee strengthened by 23 paise to quote at 74.16 against the US dollar in early trade on fresh selling of the American currency by banks and exporters.
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 "Gold futures rise 0.27% on global cues")
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