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Gold, Silver futures jump on spot demand

Gold prices on Thursday rose Rs 420 to Rs 49,367 per 10 gram in the futures trade as speculators created fresh positions on a firm spot demand.

Gold, silver prices recover after initial plunge
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Gold, silver prices recover after initial plunge

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New Delhi: Gold prices on Thursday rose Rs 420 to Rs 49,367 per 10 gram in the futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for the February delivery traded higher by Rs 420, or 0.86 per cent, at Rs 49,367 per 10 gram in a business turnover of 12,253 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded 0.76 per cent higher at $ 1,844.20 per ounce in New York.

Silver prices on Thursday rose Rs 785 to Rs 64,110 per kg in the futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for the March delivery gained Rs 785, or 1.24 per cent, to Rs 64,110 per kg in 11,971 lots. (PTI)

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