MCX Gold futures rise, latest updates on base-metals

Price of precious metal Gold rose 0.12 percent to Rs 31779 per ten grams in futures trade Wednesday since speculators generated fresh positions, amid weak overseas trend.

At the Multi Commodity Exchange or MCX, gold for delivery in February demonstrates up by Rs38, or 0.12%, at Rs 31779 per ten grams, in a business turn-over of 2085 lots.

Rise in gold prices at futures trade was mainly led by fresh positions built-up by speculators and depreciating rupee against the USD made imports of the metal costlier helping the uptrend in Gold.

The other base metal, Silver price, however sees with resistance at existing higher levels and drops Rs210 to Rs 39800 per kg.