Gold futures rose 1.14% to Rs 27,903 per 10 grams today as speculators created fresh positions, buoyed by a firm trend overseas amid a weak dollar.
At the Multi Commodity Exchange, the February contract rose by Rs 334, or 1.14%, to Rs 27,903 per 10 grams, with a business turnover of 6,006 lots.
The metal for delivery in April also rose by Rs 304, or 1.09% to Rs 28,2580 per 10 grams, with a trading volume of 1,156 lots.
Marketmen said gold soared to 7-week high in the global markets after the Federal Reserve's said it would keep US borrowing costs low.
Besides, the dollar fell against major currencies, boosting demand for the precious metals.
Gold rose $9.70 to $1,720.50 an ounce in New York yesterday's trade.
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 →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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