Gold futures recover 0.44% on global cues
Participants create fresh positions in line with firm overseas trend
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Gold prices recovered by 0.44% to Rs 27,880 per 10 gram in futures trade as participants created fresh positions in line with a firming trend overseas on speculation the biggest decline this year may spur demand.
At the Multi Commodity Exchange, gold for delivery in far-month October rose Rs 123, or 0.44%, to Rs 27,880 per 10 gram in a business turnover of seven lots.
August gold moved up by Rs 113, or 0.41%, to Rs 27,875 per 10 gm in a turnover of 238 lots.
Analysts said fresh positions created by participants taking a lead from the overseas markets, on speculation the biggest decline this year may spur demand, mainly supported the upside in gold prices at futures trade here.
Meanwhile, gold traded 0.20% higher at $1,309.61 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in far-month October rose Rs 123, or 0.44%, to Rs 27,880 per 10 gram in a business turnover of seven lots.
August gold moved up by Rs 113, or 0.41%, to Rs 27,875 per 10 gm in a turnover of 238 lots.
Analysts said fresh positions created by participants taking a lead from the overseas markets, on speculation the biggest decline this year may spur demand, mainly supported the upside in gold prices at futures trade here.
Meanwhile, gold traded 0.20% higher at $1,309.61 an ounce in Singapore.
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First Published: Jul 15 2014 | 11:00 AM IST