Gold prices advanced by 0.19 per cent to Rs 28,546 per 10 grams at the futures trade as speculators raised their bets due to a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in February rose Rs 53 or 0.19 per cent to Rs 28,546 per 10 grams in a business turnover of 337 lots. On similar lines, the yellow metal for delivery in April was trading higher by Rs 54 or 0.19 per cent at Rs 28,545 per 10 grams in 13 lots.
Analysts said this is in line with a firm trend overseas, where gold hovered near a 2-week high amid a steady dollar and weaker stocks. Globally, gold rose 0.16 per cent to $1,267.10 an ounce in Singapore.
Silver prices edged up 0.09 per cent to Rs 38,144 per kg at the futures market as speculators raised their bets, taking positive leads from global markets.
At the Multi Commodity Exchange, silver for delivery in May went up by Rs 36 or 0.09 per cent at Rs 38,144 per kg in a business turnover of 2 lots. Likewise, the white metal for delivery in March contracts traded higher by Rs 18 or 0.05 per cent at Rs 37,664 per kg in 213 lots.
Analysts said expanding of positions by traders in tandem with a firm trend in global markets for precious metals, influenced silver prices. Globally, silver rose 0.25 per cent to $16.20 an ounce in Singapore.