strong global trend On Friday, gold prices rose by Rs 160 to Rs 55,940 per 10 grams in the bullion market of the national capital. HDFC Securities gave this information. In the last trading session, gold had closed at Rs 55,780 per 10 grams. Silver also gained Rs 220 to close at Rs 64,700 per kg. Saumil Gandhi, Senior Analyst, HDFC Securities said, “Gold prices were marginally higher in COMEX (commodity market) during Asian trade. In the international market, gold rose sharply to USD 1,843 an ounce, while silver also held firm at USD 21.03 an ounce. Sriram Iyer, Senior Research Analyst, Reliance Securities said, gold prices strengthened amid a rise in precious metals overseas. However, strengthening of the rupee against the dollar on Friday limited the rally.
Gold futures rise
Gold prices on Friday rose by Rs 61 to Rs 55,800 per 10 grams in futures trade due to fresh positions created by speculators in strong demand at the spot market. At the Multi Commodity Exchange, the contracts for delivery in April traded higher by Rs 61, or 0.11 per cent, at Rs 55,800 per 10 grams. There was a turnover of 10,841 lots. Market analysts said fresh positions created by traders mainly influenced the rise in gold prices at futures. Globally, gold rose 0.47 per cent to USD 1,849.10 an ounce in New York.
silver futures up
Silver prices on Friday rose by Rs 366 to Rs 64,400 per kg in futures trade as participants widened their positions amid strong demand in the spot market. On the Multi Commodity Exchange, silver for delivery in May traded higher by Rs 366, or 0.57 per cent, to Rs 64,400 per kg. There was a turnover of 14,524 lots. Market analysts said the rise in silver futures mainly attributed to fresh positions created by traders amid an uptrend in the domestic spot market. Globally, silver traded higher by 1.12 per cent at USD 21.14 an ounce in New York.