Gold futures rose by Rs19 to reach Rs86,203 per 10 grams on the Multi Commodity Exchange (MCX) as speculators took advantage of firm spot demand, creating fresh positions. Similarly, silver futures surged by Rs411, reaching Rs95,500 per kilogram as market participants increased their bets on the metal.
Gold Futures Performance
Gold futures for April delivery on MCX traded higher by Rs19, or 0.02%, at Rs86,203 per 10 grams, with a turnover of 16,655 lots. Analysts noted that fresh positions contributed to the rise in gold prices. However, globally, gold futures saw a slight decline, dropping 0.61% to $2,933.77 per ounce in New York.
Silver Futures Rise
On MCX, silver contracts for March delivery increased by Rs411, or 0.43%, to Rs95,500 per kilogram, with a turnover of 12,948 lots. The surge in silver prices was attributed to new positions created by market participants. Globally, silver was trading 0.22% lower at $32.27 per ounce in New York.
Both metals saw upward momentum in futures trade, driven by firm spot demand, despite slight declines in international markets.
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