Precious Metals
D A I L Y B U Z Z
GOLD/SILVER
Gold prices rose by Rs 131 to Rs 25,950 per 10 grams in futures trade today as speculators created fresh positions after the precious metal recovered in the global markets. At the Multi Commodity Exchange, gold for delivery in June was up by Rs 131, or 0.51 per cent, to Rs 25,950 per 10 grams in a business turnover of 31 lots. The metal for delivery in April moved up by Rs 114, or 0.44 per cent, to Rs 25,769 per 10 grams in a turnover of 774 lots. Analysts said recovery in the precious metal in global markets mainly helped gold to trade higher at futures trade here. Globally, gold rose as much as 0.7 per cent to USD 1,161.855 an ounce in Singapore. After its three session slide, gold prices recovered slightly at the bullion market here on modest offtake from stockist and investors as well as low level jewellery buying interest on the back of improved international markets. Silver also gained following mild speculative buying. Standard gold (99.5 purity) rose by Rs 95 to end at Rs 25,900 per 10 grams from Thursday's closing level of Rs 25,805. Pure gold (99.9 purity) also went up by a similar margin to conclude at Rs 26,050 per 10 grams from Rs 25,955. Silver (.999 fineness) moved up by Rs 85 per kg to close at Rs 36,205 as compared to Rs 36,120 yesterday. Globally, in Europe gold firmed up after nine straight sessions of losses, as the dollar nursed losses following its biggest one-day fall in a month late yesterday. In London, spot gold edged up 0.3 per cent to $1,156.20 an ounce in early trade. while spot silver were down 0.3 per cent at $15.52 an ounce.
