Gold and silver continued their upward journey as prices rose by 0.78 per cent to Rs 25,888 per 10 grams and 1.20 per cent to Rs 59,420 per kg repectively in futures trade on Tuesday supported by a firming trend overseas.
At the Multi Commodity Exchange, gold for delivery in October shot up by Rs 200, or 0.78 per cent, to Rs 25,888 per 10 grams, with a trade turnover of 1,264 lots. It had closed 0.18 per cent higher at Rs 25,688 in the last session. Similarly, silver for delivery in September rose sharply by Rs 702, or 1.20 per cent, to Rs 59,420 per kg, with a business turnover of 1,683 lots at the Multi Commodity Exchange.
PERSPECTIVE:
Uncertainties add glitter to gold The metal for delivery in December also gained Rs 192, or 0.74 per cent, to Rs 26,082 per 10 grams, with a trade volume of 53 lots.
Market analysts said a firming trend in precious metals at New York, mainly influenced gold prices at futures trade.
Gold for December delivery rallied by 0.8 per cent to a record $1,772.70 an ounce in New York.
Analysts attributed the rise in silver futures prices to a firming trend in precious metals in global markets.
In addition, a firming trend in the domestic bullion market on the back of marriage season demand also supported the upside, they added.
Meanwhile, silver shot up by 2.18 per cent to USD 39.92 an ounce in New York yesterday.
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