Bullion futures advance on spot demand

Gold prices rose Rs 1,297 to Rs 1,52,715 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

Gold contracts for April delivery traded higher by Rs 1,297 or 0.86 per cent at Rs 1,52,715 per 10 grams in a business turnover of 1,557 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said.

Globally, gold futures rose 0.89 per cent to $4,921 per ounce in New York.Silver prices rose Rs 7,667 to Rs 2,36,450 per kilogram in futures trade as participants increased their bets.

Silver contracts for March delivery increased Rs 7,667 or 3.35 per cent to Rs 2,36,450 per kg in a business turnover of 3,503 lots.

Fresh positions built up by participants led to a rise in silver prices, analysts said. Globally, silver was trading 3.14 per cent higher at $75.83 per ounce in New York.