New Delhi | Jagran Business Desk: Gold prices on Thursday rose Rs 23 to Rs 48,400 per 10 gram in the futures trade as speculators created fresh positions amid a firm spot demand.

On the Multi Commodity Exchange, gold contracts for the February delivery traded higher by Rs 23, or 0.05 per cent, to Rs 48,400 per 10 gram in a business turnover of 4,460 lots.

Participants created fresh positions leading to a rise in gold futures, analysts said.Globally, gold prices traded 0.20 per cent lower at USD 1,841.90 per ounce in New York

Meanwhile, Silver prices rose by Rs 94 to Rs 64,499 per kg in the futures trade on Thursday, as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 94, or 0.15 per cent, to Rs 64,499 per kg in 7,990 lots.

Analysts said the rise in silver prices was mostly due to fresh positions built by participants on a positive domestic trend. Globally, silver was trading 0.19 per cent lower at USD 24.19 per ounce in New York

Updates from Wednesday:

Silver prices spurted by Rs 1,603 per kg while gold was marginally up in the local market here on Wednesday amid a weaker rupee, according to HDFC Securities.

Gold prices inched up by Rs 16 to Rs 47,878 per 10 grams. In the previous trade, the precious metal had settled at Rs 47,862 per 10 gram.

Silver jumped Rs 1,603 to Rs 63,435 per kg from Rs 61,832 per kg in the previous trade. The rupee declined by 12 paise to 74.70 against the US dollar in opening trade on Wednesday.

In the international market, gold was trading marginally up at USD 1,814.94 per ounce and silver was flat at USD 23.64 per ounce.

Updates from Monday:

Gold prices rose by Rs 176 to Rs 47,881 per 10 grams in the national capital on Monday in line with gains in the precious metal in the global markets and a weaker rupee, according to HDFC Securities.

In the previous trade, the precious yellow metal had settled at Rs 47,705 per 10 grams.

Silver prices, however, declined by Rs 505 to Rs 61,005 per kg from Rs 61,510 per kg in the previous trade.

The rupee dipped by 9 paise to close at 74.24 (provisional) against the US dollar on Monday.

In the international market, gold was trading with gains at USD 1,822 per ounce and silver was flat at USD 23.03 per ounce.

“Gold prices traded firm with spot gold prices at COMEX trading 0.30 per cent up at USD 1,822 per ounce on Monday,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.

(With inputs from agencies)

Posted By: Mukul Sharma