Gold futures surge on domestic demand, silver rises 0.4 per cent, check prices here
New Delhi | Agencies: Gold prices on Monday rose Rs 213 to Rs 45,740 per 10 gram in futures trade on firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for June traded 0.47 per cent higher or Rs 213 to Rs 45,740 per 10 gram.
The precious yellow metal for August delivery edged up by 0.72 per cent or Rs 328 to Rs 46,024 per 10 gram.
Fresh positions built up by participants on spot demand mainly led to rise in gold prices, analysts told PTI.
Globally, gold prices rose 0.76 per cent. Spot gold was trading 0.3 per cent up 0.3 at USD 1,704.38 per ounce, while US gold futures rose 0.8 per cent to USD 1,715.
"We have a risk-off environment in financial markets today," Julius Baer analyst Carsten Menke told Reuters.
"The tensions which are building related to the outbreak of coronavirus are just another example of this ceremonial tussle between the U.S. and China," he said, adding that the rising tensions between the two could turn out to be positive for gold.
Silver prices, on the other hand, rose 0.42 per cent to Rs 41,410 per kg in futures trade as participants widened their bets on firm spot demand.
On the MCX, silver contracts for May delivery gained 0.47 per cent or Rs 173 to Rs 41,410 per kg
Similarly, the white metal for July delivery was trading higher by 0.26 per cent or Rs 108 at Rs 41,705 per kg.
In the global market, silver was trading 0.82 per cent higher at USD 15.06 per ounce in the US.
Elsewhere, palladium surged 0.8 per cent to USD 1,913.67 per ounce, while platinum declined 0.8 per cent to USD 754.29.
(with PTI inputs)
Posted By: James Kuanal