Gold Prices Rise on Strong Spot Demand, Silver Follows Suit

Bullion futures have seen an increase in prices due to strong spot demand. The prices of gold rose by Rs676 to Rs1.55 lakh per 10 grams in futures trade, with speculators creating fresh positions. In the overseas market, gold futures increased 0.40 percent to $4,394.01 per ounce in New York.

The white metal, silver, also saw a rise of 0.96 percent to Rs2.38 lakh per kg in the futures trade amid a firm global trend. The participants led to a rise in precious metal prices, analysts said.