Spot Demand Boosts Gold Prices Up Rs 424 a Gram
Silver gains Rs 762/kg; most metals head north on speculation over fresh positions
Gold prices on Monday rose by Rs 424 to Rs 47,161 per 10 gram in futures trade as speculators created fresh positions on a firm spot demand. Silver prices rose by Rs 762 to Rs 69,128 per kg as participants widened their bets on a firm spot demand.
Aluminium prices rose 0.23 per cent to Rs 194.15 per kg in the futures trade on Monday as speculators built up fresh positions amid a positive trend in the spot market. Zinc prices rose by 0.32 per cent to Rs 233.20 per kg, tracking a firm trend in physical markets on the back of a pick-up in spot demand. Nickel prices rose by 0.55 per cent to Rs 1,324.20 per kg as speculators built fresh positions on rising demand from alloy makers in the spot market. Copper prices traded up 0.03 per cent at Rs 754.30 per kg on the back of a pick-up in spot demand.
On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 424, or 0.91 per cent, at Rs 47,161 per 10 gram in a business turnover of 10,558 lots, silver contracts for July delivery gained Rs 762, or 1.11 per cent, to Rs 69,128 per kg in 8,778 lots.
Aluminium contracts for May delivery gained 45 paise, or 0.23 per cent, to Rs 194.15 per kg in a business turnover of 1,926 lots, zinc contracts for May delivery traded higher by 75 paise, or 0.32 per cent, to Rs 233.20 per kg with a business turnover of 2,513 lots. Nickel contracts for May delivery gained Rs 7.30, or 0.55 per cent, to Rs 1,324.20 per kg in a business turnover of 1,944 lots. Copper contracts for delivery in May traded higher by 20 paise, or 0.03 per cent, at Rs 754.30 per kg in a business turnover of 3,827 lots.
Gold prices traded 0.70 per cent higher at $1,780 per ounce and silver was trading 1.11 per cent higher at $26.16 per ounce in New York.