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Gold & Silver Futures Rises on Firm Global Cues

Gold prices were up by 0.36 per cent to Rs 28,777 per 10 gram in futures trade today as speculators enlarged positions amid a firm global trend. At the Multi Commodity Exchange, gold for delivery in far-month October was trading higher by Rs 103 or 0.36 per cent to Rs 28,777 per 10 gram in a business turnover four lots.

The yellow metal for delivery in August gained Rs 94 or 0.33 per cent to Rs 278,620 per 10 gm in 532 lots. Market analysts attributed rise in gold prices at futures trade to building up of positions by speculators, tracking a positive trend in global markets.

Meanwhile, gold rose 0.27 per cent to USD 1,246 an ounce in Singapore.

SILVER 

Tracking a firming trend in the precious metals overseas, silver prices soared by Rs 160 to Rs 38,748 per kg in futures trade today as speculators widened their bets. In futures trading at the Multi Commodity Exchange, silver for delivery in far-month September shot up by Rs 160 or 0.41 per cent to Rs 38,748 per kg in a business turnover of 36 lots.

The white metal for delivery in July was trading higher by Rs 135 or 0.35 per cent to Rs 38,200 per kg in 774 lots. Market analysts said speculative position created by participants, driven by firm global trend, mainly influenced silver futures prices here.

Meanwhile, silver rose 0.33 per cent to USD 16.50 an ounce in Singapore.

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