Gold futures gain on spot demand
Gold prices on Wednesday rose by Rs 139 to Rs 44,785 per 10 grams in the futures trade as speculators created fresh positions on a firm spot demand.
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New Delhi: Gold prices on Wednesday rose by Rs 139 to Rs 44,785 per 10 grams in the futures trade as speculators created fresh positions on a firm spot demand.
On the Multi Commodity Exchange, gold contracts for the April delivery traded higher by Rs 139, or 0.31 per cent, at Rs 44,785 per 10 grams in a business turnover of 7,741 lots.
Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded 0.14 per cent higher at $1,729.90 per ounce in New York.
Earlier in the day, gold prices dipped by Rs 149 to Rs 44,350 per 10 grams. It's reflecting overnight fall in global precious metal prices, according to HDFC Securities.
In the previous trade, it had closed at Rs 44,499 per 10 gram. Silver also declined Rs 866 to Rs 64,607 per kg, from Rs 65,473 per kg in the previous trade.
In the international market, gold was trading marginally higher at $1,729 per ounce and silver was flat at $25.12 per ounce.
"Gold prices have kept downside limited on pandemic worries despite of dollar rally," said HDFC Securities Senior Analyst (Commodities) Tapan Patel.
