Gold prices rose by 0.82 per cent to Rs 27,858 per ten grams in futures trade today as speculators created fresh positions, taking positive cues from overseas markets. At the Multi Commodity Exchange, gold for delivery in August rose by Rs 227, or 0.82 per cent to Rs 27,858 per ten grams in business turnover of 10901 lots. Similarly, the metal for delivery in October traded higher by Rs 127, or 0.46 per cent to Rs
27,627 per ten grams in 4349 lots. Market analysts said fresh positions created by speculators supported by a firm global trend mainly led to rise in gold prices at futures trade.
Meanwhile, gold rose by 1.50, or 0.11 per cent to USD 1,535.30 an ounce in London. Tracking a weak global trend, silver futures prices today fell by 0.67 per cent to Rs 40,775 per kg as speculators reduced exposures. At the Multi Commodity Exchange, silver prices for delivery in September fell by Rs 275, or 0.67 per cent, to Rs 40,775 per kg in business turnover of 2,337 lots.Similarly, the white metal prices for delivery in far-month December lost Rs 273, or 0.65 per cent, at Rs 41,600 per kg in 81 lots.
Copper Updates ~ MCX Base Metals Tips Today:-
Copper prices fell by 0.28 per cent to Rs 407.20 per kg in futures trade today after speculators trimmed positions, tracking a weak global trend on concern that demand from China will continue to slow.At the Multi Commodity Exchange (MCE), copper for delivery in August fell by Rs 1.15 or 0.28 per cent to Rs 407.20 per kg in business turnover of 5,418 lots. In a similar fashion, the metal for delivery in far-month November declined by Rs 1.05 or 0.25 per cent to Rs 415.30 per kg in 463 lots.
Market analysts said, the fall in copper prices at futures trade was due to off-loading of positions by speculators, taking weak cues from global market on concern that demand from China, the biggest consumer, will continue to slow. Meanwhile, copper for delivery in three months fell 0.6 per cent to USD 6,820 a tonne, the lowest since July 10, on the London Metal Exchange.
