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| Gold futures up on global cues, silver declines |
| Press Trust of India / New Delhi Feb 07, 2012, 14:52 IST |
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 Gold prices rose by Rs 29 to Rs 27,965 per 10 grams in futures trade today, as speculators enlarged their positions on hopes of a rise in demand during the marriage season amid firming global trend.
At the Multi Commodity Exchange, gold for delivery in April rose by Rs 29, or 0.10% to Rs 27,965 per 10 grams in business turnover of 7,671 lots.
June gold gained Rs 22, or 0.08% to Rs 28,299 per 10 grams in 234 lots.
Market analysts said increased buying by speculators on expectations of pick up in demand during marriage season amid firming global trend mainly led to rise in gold futures prices.
Meanwhile, gold rose by $8.50 to $1,728.40 an ounce in Asia.
Silver futures, on the other hand, shed Rs 96 to Rs 56,330 per kg, as traders cut their positions on the back of weakening global trend.
March silver lost Rs 96, or 0.17% to Rs 56,330 per kg on MCX, in a business turnover of 8,617 lots.
The May contract was down Rs 99, or 0.17% to Rs 57,715 per kg in 412 lots. Market analysts said traders reducing their positions on the back of weakening global trend mainly led to decline in silver prices at futures trade.
And in Asia, silver shed 0.12% to $33.64 an ounce.
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