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Nickel prices gained 0.43% to Rs 873.70 per kg in futures trading today as speculators enlarged their positions, driven by pick up in demand in the spot market amid a firm global trend.
At the Multi Commodity Exchange, Nickel for delivery in November rose by Rs 3.70, or 0.43%, to Rs 873.70 per kg in business turnover of 877 lots.
Likewise, the metal for delivery in December traded higher by Rs 3.20, or 0.36%, to Rs 883.20 per kg in 44 lots.
Analysts said besides rising demand from alloy-makers, a firming global trend after US Federal Reserve Chairman nominee Janet Yellen backed stimulus until the economy and labour market improves, reducing concerns the central bank's bond-buying programme will soon be scaled back, mainly led to rise in nickel prices at futures trade.
