At the Multi Commodity Exchange, gold for delivery in February rose by Rs 246, or 0.87 percent, to Rs 28,664 per 10 gm, with a business turnover of 687 lots. Similarly, the metal for delivery in April moved up by Rs 203, or 0.73 percent, to Rs 27,890 per 10 gm, with a trade volume of 45 lots.

At the Multi Commodity Exchange, silver for delivery in March shot up by Rs 1,174, or 2.68 percent, to Rs 45,050 per kg in business turnover of 2,849 lots. Similarly, the white metal for delivery in May traded higher by Rs 1,145, or 2.55 percent, to Rs 46,000 per kg in 44 lots.

Marketmen said fresh positions built-up by speculators after the precious metals rallied from their worst year in more than three decades in global markets as a decline to a six-month low spurred physical purchases influenced gold futures here.
    
Analysts attributed the rise in silver prices at futures trade to a firming trend in the global markets as recent plunge spurred physical purchases by investors.

Globally, gold in Singapore climbed to USD 1,224.09 an ounce from USD 1,205.65 on December 31.  Meanwhile, silver traded higher at USD 20.14 an ounce in Singapore from USD 19.47 on December 31.

JPN/Agencies

Latest News  from Business News Desk