Gold futures rise to Rs 30,952 on firm global cues

Mumbai-India (Sept 21)  Tracking a firm global trend, gold prices went up by 0.38 per cent to Rs 30,952 per 10 grams at the futures trade owing to fresh positions created by speculators.

At the Multi Commodity Exchange, gold for delivery in December rose Rs 116 or 0.38 per cent to Rs 30,952 per ten grams in a business turnover of 34 lots. Similarly, the yellow metal for delivery in October was trading higher by Rs 114 or 0.37 per cent at Rs 30,713 per ten grams in 234 lots.

Market analysts said fresh positions created by traders in sync with a firm global trend, where gold prices edged higher on Friday to a one-week high as the dollar weakened on receding fears of a full-blown Sino-US trade war, boosted the domestic sentiment. Globally, gold rose 0.12 per cent to $1,208.30 an ounce in Singapore.

Taking positive cues from global markets, silver prices rose 0.79 per cent to Rs 37,555 per kg at the futures trade.

At the Multi Commodity Exchange, silver for delivery in December shot up Rs 296 or 0.79 per cent to Rs 37,555 per kg in a business turnover of 1,409 lots. Likewise, the white metal for delivery in March gained Rs 293 or 0.77 per cent to Rs 38,347 per kg in 12 lots.

Market analysts said fresh positions created by traders in tandem with a firm global trend influenced silver prices at the futures trade. Meanwhile, silver rose 0.38 per cent to $14.36 an ounce in Singapore.

BusinessLine