 "Gold recovers at futures trade, up 0.3%")
Reversing an early downward trend, gold recovered to trade above Rs 26,000 level by rising 0.33% to Rs 26,220 per 10 gm in futures trade today after it recovered in the global markets.
At the Multi Commodity Exchange, gold for delivery in far-month October gained Rs 87, or 0.33% to Rs 26,220 per ten gram in a turnover of 515 lots. It had touched a low of Rs 26,008 in early trade.
Similarly, gold for the August contracts, after dipping below Rs 26,000 level to touch a low of Rs 25,887 per ten gram at the outset, recovered to trade Rs 46, or 0.19% higher at Rs 26,080 per ten gram in 12,543 lots.
Market analysts said recovery in the global markets on speculation that this year's slump will spur stronger physical demand, helped gold to wipe-off initial losses to trade in positive zone.
Globally, gold rose 0.6% to $1,230.97 an ounce in London.
At the Multi Commodity Exchange, gold for delivery in far-month October gained Rs 87, or 0.33% to Rs 26,220 per ten gram in a turnover of 515 lots. It had touched a low of Rs 26,008 in early trade.
Similarly, gold for the August contracts, after dipping below Rs 26,000 level to touch a low of Rs 25,887 per ten gram at the outset, recovered to trade Rs 46, or 0.19% higher at Rs 26,080 per ten gram in 12,543 lots.
Market analysts said recovery in the global markets on speculation that this year's slump will spur stronger physical demand, helped gold to wipe-off initial losses to trade in positive zone.
Globally, gold rose 0.6% to $1,230.97 an ounce in London.
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%