Gold and Silver Prices Rise in Futures Trade Amid Fresh Positions

Gold and silver prices rose in futures trade on Friday, driven by fresh positions built by market participants and firm spot demand. On the Multi Commodity Exchange (MCX), the gold contract for October delivery climbed Rs 1,309, or 0.86 per cent, to Rs 1,54,290 per 10 grams.

The silver contract for December delivery advanced Rs 2,978, or 1.25 per cent, to Rs 2,41,183 per kg, with a business turnover of 3,082 lots. In the international market, gold futures rose 1.16 per cent to USD 4,392.24 per ounce in New York.

Silver prices also gained 1.25 per cent to Rs 2,41,183 per kg in futures trade on the MCX, supported by a firm global trend. Analysts said fresh positions built by market participants led to the rise in silver prices.