Gold glitters in futures trade on global cues, spot demand
Gold prices rose by 0.50 per cent to Rs 21,204 per ten grams in futures trade today, supported by a firm trend overseas, as violence in the Middle East intensified, and rising domestic demand.
At the Multi Commodity Exchange, gold for delivery in April gained Rs 206, or 0.50 per cent, to Rs 21,204 per 10 grams, with a business turnover of four lots.
Likewise, the precious metal for delivery in June moved up by Rs 96, or 0.45 per cent, to Rs 21,494 per 10 grams, with a business volume of two lots.
Analysts said demand for precious metals as a safe haven investment due to the violence in the Middle East, influenced the trading sentiments at futures trade here.
Also, a firm trend in the domestic market on the back of increased demand, on account of the ongoing marriage season, supported the uptrend in the prices, they added.
Meanwhile, gold rose by 0.5 per cent to $1,437.85 an ounce in Asia. The metal climbed to an all-time high of $1,440.32 an ounce on March 2.