Gold, silver futures rise on global cues

Gold futures prices rose by Rs 203 to Rs 26,550 per 10 grams today, as speculators created fresh positions driven by a firming trend in domestic as well as international markets. Silver futures too shot up by Rs 639 to Rs 52,340 per kg.

At the Multi Commodity Exchange, December gold rose by Rs 203, or 0.77%, to Rs 26,550 per 10 grams, with a business turnover of 4,415 lots.

The February contract moved up by Rs 206, or 0.77%, to Rs 26,825 per 10 grams, with a trade volume of 291 lots.

Market analysts attributed the rise in gold futures prices to a firming trend in Asian region and rising demand in spot market for the ongoing festive season.

Meanwhile, gold advanced by 0.6% to $1,629.70 an ounce in Singapore.