New Delhi: Tracking a firming global trend, gold prices rose 0.55 per cent to Rs 27,119 per ten gram in futures trade on October 14 as speculators enlarged positions.
At the Multi Commodity Exchange, gold for delivery in December contracts moved up by Rs 147, or 0.55 per cent to Rs 27,119 per ten gram in business turnover of 1,800 lots. On similar lines, gold for delivery in February traded higher by Rs 149, or 0.55 per cent to Rs 27,260 per ten gram in 24 lots.
Analysts attributed the rise in gold futures to a firming global trend where the metal traded at nearly four-week highs. as speculation that the US Federal Reserve may delay raising borrowing costs on slowing global growth hurt the dollar and boosted demand for a safe-haven. Meanwhile, gold traded higher at USD 1,236.12 an ounce from USD 1,235.87 yesterday in Singapore.
Silver prices went up by 0.95 per cent to Rs 38,700 per kg in futures trade on October 14 as speculators enlarged positions, taking positive cues from overseas markets. At the Multi Commodity Exchange, silver for delivery in December rose by Rs 364, or 0.95 per cent to Rs 38,700 per kg in business turnover of 3,482 lots.
Similarly, the white metal for delivery in far-month March 2015 gained Rs 354, or 0.88 per cent to Rs 39,335 per kg in 33 lots. Analysts said the rise in silver prices at futures trade was mostly in tandem with a firming trend overseas as speculation that the US Federal Reserve may delay raising borrowing costs on slowing global growth, adversely affected the dollar and boosted demand for the industrial metal. Meanwhile, silver moved up to USD 17.49 an ounce from USD 17.48 yesterday in Singapore.
