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, mcx gold for
delivery in June was up by Rs 131, or 0.51 percent, 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.
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