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Precious Metals: Gold, silver rise in futures trade amid strong demand

Gold prices on Wednesday rose by Rs 12 to Rs 37,583 per 10 gram in futures trade.

PTI|
Dec 11, 2019, 03.31 PM IST
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Silver futures on Wednesday traded higher by Rs 28 at Rs 43,535 per kg as speculators raised their bets.
Gold prices on Wednesday rose by Rs 12 to Rs 37,583 per 10 gram in futures trade as speculators widened their bets on spot demand, tracking a firm trend overseas.

On the Multi Commodity Exchange, gold contracts for the February delivery traded higher by Rs 12, or 0.03 per cent, at Rs 37,583 per 10 gram in a business turnover of 16,362 lots.

Gold for delivery in April next year also edged up by Rs 20, or 0.05 per cent to Rs 37,678 per 10 gram in a business turnover of 2,358 lots.

Analysts said the rise in gold prices was mostly on the back of fresh positions built up by participants on positive overseas trend.

Globally, gold price was quoting 0.05 per cent up at $1,468.80 an ounce in New York.

Silver

Silver futures on Wednesday traded higher by Rs 28 at Rs 43,535 per kg as speculators raised their bets.

Silver contracts for March delivery rose by Rs 28, or 0.06 per cent, to Rs 43,535 per kg in a business turnover of 14,590 lots on the Multi Commodity Exchange.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

In the international market, silver traded 0.16 per cent lower at $16.68 an ounce in New York.

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