Precious Metals
D A I L Y B U Z Z
Gold again crossed Rs 29,000 per ten gram level in futures trade today by rising 0.42 per cent as speculators engaged in creating positions amid a firming trend overseas.Besides, covering up of short positions by speculators and increased demand at spot markets ahead of festive season also influenced gold futures prices here, traders said.At the Multi Commodity Exchange, metal prices for delivery in October gained Rs 122, or 0.42 per cent, to trade above Rs 29,000 level at Rs 29,045 per ten gram in a turnover of 422 lots.
On the similar lines, the metal prices for delivery in far-month December edged up by Rs 111, or 0.39 per cent, to Rs 28,903 per 10 gm, clocking a business volume of 21 lots.
Tracking a firming trend overseas, silver prices rose by 0.41 per cent to trade at nearly four-month high of Rs 47,024 per kg in futures trade today as speculators created huge positions.
At the Multi Commodity Exchange, silver prices for delivery in far-month December contracts rose by Rs 190, or 0.41 per cent, to Rs 47,024 per kg, a level last seen in April, in business turnover of 98 lots.
Similarly, the white metal prices for delivery in September traded Rs 172, or 0.38 per cent, higher at Rs 46,033 per kg in a turnover of 1,748 lots.
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