Gold, silver gain in futures trading on MCX

Gold futures today gained 0.08 per cent on the Multi Commodity Exchange on increased buying in the spot market for the marriage season.

Gold for delivery in June, the most active contract, rose 0.08 per cent to Rs 14,581 per 10 gram on the MCX at 1100 hrs, in a trading volume of 15,505 lots.

The August contract added 0.07 per cent to Rs 14,580 per 10 gram with trading volume of 2,603 lots.

Meanwhile, gold prices traded in Asia at around previous levels of $913.50 an ounce.

Marketmen said increased demand in the spot market in view of the current marriage season mainly led to the rise in gold prices.

Silver futures too were up today and gained 0.13 per cent on the MCX on increased offtake by jewellery fabricators and industrial users.

July silver, the most active contract, gained 0.13 per cent to Rs 22,594 per kg on the MCX at 1100 hrs in a trading volume of 12,201 lots.

A similar firmness was extended in the September contract which added 0.13 per cent at Rs 22,650 per kg at the same time in trading of 443 lots.

Market exports increased offtake by jewellery fabricators to meet the current marriage season demand mainly led to a rise in silver prices in spot as well as futures trading.