Gold up 0.6% on recovery in the global markets
Metal for delivery in April gained 1.3%
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Gold futures recovered by 0.66% to Rs 30,447 per 10 grams today as speculators created fresh positions as tensions in Ukraine have escalated, raising demand for safe-haven.
Besides, covering-up of short positions by speculators at prevailing levels also influenced gold futures prices here.
At the Multi Commodity Exchange, metal for delivery in April gained Rs 200, or 1.32%, to trade higher at Rs 30,447 per 10 grams in a turnover of 633 lots.
Similarly, the metal for delivery in June spurted by Rs 172, or 0.58%, to Rs 29,757 per 10 grams, clocking a business volume of 47 lots.
Analysts attributed the rise in gold prices at futures trade to the precious metal's recovery in the global markets where it climbed to a 19-week high as speculations that China's growth is faltering, hurt equities.
Globally, gold rose 0.8% to $1,359.83 an ounce in Singapore today, the highest level since October 29.
Besides, covering-up of short positions by speculators at prevailing levels also influenced gold futures prices here.
At the Multi Commodity Exchange, metal for delivery in April gained Rs 200, or 1.32%, to trade higher at Rs 30,447 per 10 grams in a turnover of 633 lots.
Similarly, the metal for delivery in June spurted by Rs 172, or 0.58%, to Rs 29,757 per 10 grams, clocking a business volume of 47 lots.
Analysts attributed the rise in gold prices at futures trade to the precious metal's recovery in the global markets where it climbed to a 19-week high as speculations that China's growth is faltering, hurt equities.
Globally, gold rose 0.8% to $1,359.83 an ounce in Singapore today, the highest level since October 29.
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First Published: Mar 12 2014 | 12:18 PM IST