Gold, Silver futures gain on spot demand

Gold prices on Monday rose by Rs 204 to Rs 50,751 per 10 gram in silver futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold futures contracts for December delivery traded higher by Rs 204, or 0.4 per cent, at Rs 50,751 per 10 gram in a business turnover of 14,671 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Gold prices traded 0.38 per cent higher at USD 1,913.60 per ounce in New York.

Silver prices on Monday rose by Rs 839 to Rs 62,515 per kg in futures trade as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for December gained Rs 839, or 1.39 per cent, to Rs 62,515 per kg in 15,571 lots.

Analysts said the rise in silver prices was mostly due to fresh positions built up by participants on a positive domestic trend.

Silver was trading 1.43 per cent up at USD 24.76 per ounce in New York.

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Gold, Silver futures gain on spot demand via @goldsilverrepor
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