Precious Metals: Gold, silver futures up on fresh bets, firm global cues

New Delhi: Gold prices edged up by Rs 331 to Rs 33,290 per 10 gram at futures trade Friday on firm demand by local jewellers at the spot markets in tandem with positive global sentiments.

On the Multi Commodity Exchange, gold to be delivered in June contracts was up by Rs 331, or 1 per cent, to trade at Rs 33,290 per 10 gram in a business turnover of 18,187 lots.

According to analysts, raising of bets by speculators at current levels mainly pushed up gold prices at futures trade here, along with strong trends overseas.

Globally, gold was trading 1.01 per cent up at USD 1,357.30 an ounce in New York.

Silver

Silver futures traded higher by 0.93 per cent to Rs 37,450 per kg Friday after speculators raised bets, driven by a firm trend overseas.

On the Multi Commodity Exchange, silver for delivery in July contracts was up by Rs 345, or 0.93 per cent, to Rs 37,450 per kg in a business turnover of 19,496 lots

The white metal to be delivered in far-month September contracts, too, rose sharply by Rs 355, or 0.95 per cent, to Rs 37,848 per kg in 6,883 lots.

Analysts said, widening of positions by traders in sync with a firm trend on global markets for precious metals mainly influenced silver prices at futures trade here.

In the international market, silver traded higher by 0.93 per cent at USD 15.03 an ounce in New York.