Gold prices firm up amid rising Iran-Israel tensions
Gold futures, maturing on June 5, 2024, stood at Rs 72,813 per 10 grams on the MCX, up Rs 536 or 0.74 per cent from the previous day’s close of Rs 72,277.
Gold prices rose 0.31 per cent to Rs 30,430 per 10 gram in futures trade on Wednesday as speculators widened positions amid firm global cues.
At the Multi Commodity Exchange, gold for delivery in June rose Rs 94, or 0.31 per cent, to Rs 30,430 per ten grams in a business turnover of 2 lots.
Likewise, the yellow metal for delivery in April contracts was trading higher by Rs 84, or 0.28 per cent, at Rs 30,302 per ten grams in 181 lots.
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Analysts said the expansion of positions by participants in tandem with a firm trend overseas, buoyed by a weaker dollar led to the rise in gold futures.
Gold rose 0.44 per cent to USD 1,335.10 an ounce in Singapore.
Meanwhile, tracking a firm trend overseas, silver prices edged 0.12 per cent higher to Rs 38,289 per kg in futures trade on Wednesday as speculators raised bets.
At the Multi Commodity Exchange, silver for delivery in March rose by Rs 44, or 0.12 per cent, to Rs 38,289 per kg in a business turnover of 198 lots.
On similar lines, the metal for delivery in May contracts traded Rs 39, or 0.10 per cent, higher at Rs 38,799 per kg in 4 lots.
Analysts said widening of positions by traders in step with a firm trend in global markets influenced silver prices in futures trade. Silver rose 0.45 per cent to USD 16.63 an ounce in Singapore.
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