 "Gold futures recover by 0.2% on short-covering")
Gold prices recovered by 0.25% to Rs 29,778 per 10 grams in futures trade today as speculators covered short positions even as precious metal remained weak overseas.
At the Multi Commodity Exchange, gold for delivery in December recovered by Rs 73, or 0.25%, to Rs 29,778 per 10 gram in business turnover of 1,106 lots.
The metal for delivery in far-month February moved up by Rs 50, or 0.17%, to Rs 29,479 per 10 gm in a turnover of 54 lots.
Meanwhile, gold dropped by 0.40% to $1,283.28 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in December recovered by Rs 73, or 0.25%, to Rs 29,778 per 10 gram in business turnover of 1,106 lots.
The metal for delivery in far-month February moved up by Rs 50, or 0.17%, to Rs 29,479 per 10 gm in a turnover of 54 lots.
Also Read
Analysts said covering-up of short positions by speculators were mainly responsible for recovery in gold prices at futures trade but metal's weakness overseas after strong US jobs data, boosted speculation the Federal Reserve will begin scaling back stimulus, limited the gains.
Meanwhile, gold dropped by 0.40% to $1,283.28 an ounce in Singapore.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%