Price History: Gold On Demand, Futures up Rs 210
Price history– Local Jewelers’ demand firmed at the spot market. Due to that, gold prices points up by Rs 210 to Rs 31,960 per 10 gram at futures trade Friday. But, the gains in gold was covered by weak global sentiment.
According to Multi Commodity Exchange, gold to be delivered in June contracts rose to 0.66 percent with a business turnover of 14,430 lots.
An analyst stated that the trend overseas brought down the gains of gold. However, the increase in bets by speculators at current levels was the primary reason for gold prices growth.
Worldwide, gold trades 0.43 percent cheaper at USD 1,294.19 an ounce in Singapore.
Friday– Futures market of silver traded higher by 0.66 percent to Rs 37,165 per kg. Raised bets on speculators pushed up its gains.
The Multi Commodity Exchange showed delivery in May contracts of silver. It rose by Rs 425, or 0.66 percent, to 37,165 per kg in 24,167 lots.
In addition to that, the white metal deliveries in far-month July contracts has shown some improvements too. Rising aggressively by Rs 284, or 0.76 percent, to Rs 37,778 per kg in a business turnover of 1,243 lots.
The main influence increase in history price of silver at futures is the widening of positions by traders in sync with a firm trend on the global market for valuable metals.
Globally, silver trades higher by 1.02 percent at USD 14.97 an ounce in Singapore.
Copper futures increase on the back of firm global cues and pick up in domestic demand. It is traded higher by 0.9 percent to Rs 449.85 per kg on April 12.
Multi Commodity Exchange showed, deliveries in June for copper increased by Rs 4, or 0.9 percent, Rs 449.85 per kg in a business turnover of 1,199 lots.
When demand from consuming industries and a firm trend in base metals in the global market grew, a rise in copper prices at futures happen.
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