Gold and Silver are trading sharply higher in futures market on Friday. Gold futures rose Rs 417.00 or 1.55 percent to trade at Rs 27,266.00 per 10 gram at the Multi-Commodity Exchange (MCX). Silver futures went up Rs 405.00 or 1.12 percent to trade at Rs 36,715.00 per KG at the MCX.
Commenting on the outlook on bullion, Kedia Commodity Comtrade said, ''Gold trading range for the day is 25,967-27,315. Gold hit its highest in five weeks as the dollar eased after Fed meeting's suggested policymakers were in no hurry to raise interest rates."
"Silver trading range for the day is 35,485-36,811. Silver gained after prospects for a rate hike in September by the Federal Reserve appeared dim after the release of July meeting minutes,'' it said.