Gold Futures Rise 0.53 Percent Amid Global Strength
Gold futures gained Rs 803 on the MCX, while silver climbed 1.31 percent.
Gold futures rose by Rs 803 to Rs 1,51,612 per 10 grams on the Multi Commodity Exchange. The October contract gained 0.53 percent during Wednesday's trade. This movement aligns with broader global trends in precious metals.
Silver prices also increased, gaining Rs 3,052 or 1.31 percent. The December delivery contract reached Rs 2,35,170 per kilogram. Both metals showed firm performance in domestic futures trade.
Global Prices Drive Domestic Gains
International markets supported the local rally. New York gold futures advanced 0.70 percent to USD 4,322.14 per ounce. Silver futures in overseas markets climbed 1.34 percent to USD 64.52 per ounce. These figures reflect a consistent upward trajectory in global pricing.
Speculator Activity Boosts Trading Volumes
Analysts attribute the price rise to fresh positions opened by participants. Speculators added new contracts, increasing overall trading activity. The gold October contract recorded a business turnover of 775 lots. Silver December contracts saw a higher volume of 1,874 lots.
Silver Outperforms Gold In Percentage Terms
Silver registered a sharper percentage gain than gold in this session. The domestic silver futures increase mirrored positive trends in overseas markets. Both metals remain at elevated price levels. Data from GN auto markets/commodities confirms the steady rise in these key assets.
