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Precious Metals: Gold, silver rise in futures trade amid strong demand

Gold prices rose 0.15 per cent to Rs 37,903 per 10 gram in futures trade on Monday as speculators widened their bets on spot demand.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 58, or 0.15 per cent, at Rs 37,903 per 10 gram in a business turnover of 19,690 lots.

Gold for delivery in February next year also traded higher by Rs 69, or 0.18 per cent, at Rs 38,206 per 10 gram in a business turnover of 2,861 lots.

Analysts said the rise in gold prices was mostly on the back of fresh positions built by participants on domestic demand.

Globally, gold prices traded 0.26 per cent up at $1,492.60 an ounce in New York.

Silver Silver prices rose by Rs 270 to Rs 45,441 per kg in futures trade on Monday as participants widened their bets amid a firm trend in precious metals overseas.

On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 270, or 0.6 per cent, to Rs 45,441 per kg in a business turnover of 10,940 lots.

Similarly, the white metal for delivery in March next year was trading higher by Rs 270, or 0.59 per cent, to Rs 46,392 per kg in 1,072 lots.

Analysts said widening of positions by participants in line with a firm global trend influenced silver prices here.

In the international market, silver was up 0.55 per cent at $17.64 an ounce in New York.

Courtesy - PTI

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