Signs of recovery in Gold rates, prices near Rs 46,000 per 10 gram

New Delhi: Gold prices are showing strong signs of recovery. Gold rose by Rs 182 to Rs 45,975 per 10 gram in the national capital on Thursday following gains in the international precious metal prices, according to HDFC Securities. In the previous trade, the metal had closed at Rs 45,793 per 10 gram.

Silver also witnessed increased buying and jumped Rs 725 to Rs 66,175 per kg from the previous close of Rs 65,450 per kg.Gold Futures

In the futures trading, Gold prices rose by Rs 28 to Rs 46,390 per 10 gram as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 28, or 0.06 per cent, at Rs 46,390 per 10 gram in a business turnover of 12,403 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said.

In commodity markets, gold was at $1,743 an ounce after meeting resistance around $1,745. Oil prices fell after official figures showed a big increase in U.S. gasoline stockpiles, causing concerns about demand for crude weakening in the world`s biggest consumer of the resource at a time when supplies around the world are rising. Brent fell 22 cents to $62.94 a barrel. U.S. crude lost 37 cents to $59.40 per barrel, a Reuters report said.