Gold, Silver Price Today: Futures Surge On Domestic Cues, Firm Spot Demand

Gold prices rose by Rs 14 to Rs 37,930 per 10 gram in futures trade on Wednesday as speculators widened their bets on spot demand. On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 14, or 0.04 per cent, at Rs 37,930 per 10 gram in 16,255  lots. However, the yellow metal for delivery in February next year traded down by Rs 16, or 0.04 per cent, at Rs 38,119  per 10 gram in 4,728 lots.

Analysts said the rise in gold prices was mostly on fresh positions built by participants.

Globally, gold price was quoting 0.05 per cent lower at USD 1,489.90 an ounce in New York.

Silver prices rose by Rs 150 to Rs 46,139 per kg in futures trade on Wednesday as participants widened their bets despite a sluggish trend overseas.

On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 150, or 0.33 per cent, to Rs 46,139  per kg in a business turnover of 10,564 lots.

Similarly, the white metal for delivery in March next year traded higher by Rs 194, or 0.41 per cent, to Rs 47,020  per kg in 1,209 lots.

Analysts said widening of positions by participants amid firm demand at physical markets influenced silver prices. In the international market, silver was down 0.15 per cent at USD 17.81 an ounce in New York.