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

Gold prices on Thursday jumped Rs 259 to Rs 42,763 per 10 gram in futures trade.

PTI|
Last Updated: Feb 27, 2020, 12.50 PM IST
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Silver prices on Thursday soared Rs 539 to Rs 47,115 per kg in futures trade.
Gold prices on Thursday jumped Rs 259 to Rs 42,763 per 10 gram in futures trade as speculators widened their bets tracking positive trend overseas.

On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 259, or 0.61 per cent, to Rs 42,763 per 10 gram in a business turnover of 2,918 lots.

The yellow metal for June delivery edged up by Rs 279, or 0.65 per cent, to Rs 42,989 per 10 gram in a business turnover of 102 lots.

Fresh positions built up by participants on positive cues from global markets mainly led to rise in gold prices, analysts said.

Globally, gold prices rose 0.65 per cent to $1,653.70 per ounce in New York.

Silver
Silver prices on Thursday soared Rs 539 to Rs 47,115 per kg in futures trade as participants widened their bets amid a firm trend in the precious metal overseas.

On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 539, or 1.16 per cent, to Rs 47,115 per kg in 4,163 lots.

Similarly, the white metal for delivery in May was trading higher by Rs 537, or 1.14 per cent, at Rs 47,660 per kg in 1,764 lots.

Traders said fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures.

In the international market, silver was quoting 1.29 per cent higher at $18.15 an ounce in New York.
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