Precious Metals: Gold, silver futures up on fresh bets
On the MCX, gold for delivery in August contracts traded higher by Rs 29 to Rs 33,053 per 10 gram.
On the Multi Commodity Exchange, gold for delivery in August contracts traded higher by Rs 29, or 0.09 per cent, to Rs 33,053 per 10 gram in a business turnover of 17,767 lots.
The gold for delivery in October contracts also rose by Rs 14, or 0.04 per cent, to Rs 33,225 per 10 gram in 2,892 lots.
Market analysts said the rise in gold prices at futures trade was mostly due to widening of positions by participants in domestic markets.
Globally, the gold was trading a shade lower by 0.13 per cent at USD 1,348.90 an ounce in New York.
Silver prices rose 0.03 per cent to Rs 37,317 per kg at the futures trade Wednesday due to fresh positions created by speculators.
On the Multi Commodity Exchange, silver for delivery in July contracts went up by Rs 11, or 0.03 per cent, to Rs 37,317 per kg in a business turnover of 18,008 lots.
Similarly, the white metal for delivery in September contracts was trading higher by Rs 16, or 0.04 per cent, to Rs 37,720 per kg in a business turnover of 7,714 lots.
Market analysts attributed the rise in silver futures to fresh positions created by participants owing to an uptick in demand at the spot market.