Gold Rises To Rs 1.63 Lakh, Silver To Rs 2.45 Lakh In Futures Trade

Gold prices rose by Rs 115 to Rs 1,62,997 per 10 grams in futures trade on Wednesday as speculators built fresh positions amid firm spot demand. 

On the Multi Commodity Exchange (MCX), the gold contract for October delivery increased by Rs 115, or 0.07 per cent, to Rs 1,62,997 per 10 grams.

The contract recorded a business turnover of 674 lots. Analysts attributed the rise in gold futures to fresh positions created by market



participants.

In the overseas market, gold futures fell 0.30 per cent to USD 4,643.42 per ounce in New York. Silver prices also gained on Wednesday, rising 0.53 per cent to Rs 2,45,411 per kg in futures trade amid a firm global trend. 

On the MCX, silver for September delivery advanced Rs 1,284, or 0.53 per cent, to Rs 2,45,411 per kg, with a business turnover of 1,093 lots. Analysts said fresh positions built by participants supported the rise in silver prices.