Gold prices on Friday touched new highs on Friday, following global cues. Gold prices on Friday jumped Rs 433 to Rs 42,472 per 10 gram in futures trade as speculators widened their bets driven by firm trend overseas.
The trading in the first half was closed on account of ‘Mahashivratri’. On the Multi Commodity Exchange, gold contracts for April traded higher by Rs 433, or 1.03 per cent, to Rs 42,472 per 10 gram in a business turnover of 1,354 lots.
The yellow metal for June delivery climbed Rs 411, or 0.97 per cent, to Rs 42,649 per 10 gram in a business turnover of 109 lots. Fresh positions built up by participants on positive cues from global markets mainly led to rise in gold prices, analysts said. Globally, gold prices rose 1.09 per cent to USD 1,638.10 per ounce in New York.
Gold prices on Thursday rose by Rs 111 to Rs 42,492 per 10 gram in the national capital on weak rupee, according to HDFC Securities. The yellow metal had closed at Rs 42,381 per 10 gram in the previous trading session. However, silver prices fell Rs 67 to Rs 48,599 per kg from Rs 48,666 per kg on Wednesday.