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Gold futures rise on spot demand to Rs 52,808 per 10 gram
Fresh positions built up by participants led to the rise in gold prices, analysts said.
Highlights
- Gold traded higher by Rs 217 or 0.41 per cent to Rs 52,808 per 10 gram in MCX.
- Similarly, silver prices also saw a rise of over Rs 500 to cross Rs 65,500 per kg.
- Fresh positions built up by participants led to the rise in gold prices, analysts said.
New Delhi: Gold prices are witnessing newer heights everyday. On Wednesday, prices of the yellow metal rose by Rs 217 to Rs 52,808 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.
On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 217, or 0.41 per cent, at Rs 52,808 per 10 gram in a business turnover of 2,603 lots. Similarly, silver prices also saw a rise of over Rs 500 to cross Rs 65,500 per kg.
Fresh positions built up by participants led to the rise in gold prices, analysts said.
Gold prices traded 0.46 per cent higher at USD 1,972.10 per ounce in New York. Spot gold was steady at $1,959.04 per ounce by 0723 GMT. Prices hit an all-time high of $1,980.57 on Tuesday. U.S. gold futures rose 0.1% to $1,958.20. Elsewhere, silver dropped 1.1% to $24.31 per ounce, platinum fell 1.1% to $937.93 and palladium slipped 1.1% to $2,257.49.
With Reuters Inputs