Gold futures rise 0.4% on global cues
Traders create fresh positions as metal gains 0.4% in Singapore
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Gold prices rose 0.40 per cent to Rs 27,630 per 10 grams in futures trade today as speculators created fresh positions, tracking a firm global trend.
At the Multi Commodity Exchange, gold for delivery in August moved up by Rs 111, or 0.40 per cent to Rs 27,630 per ten gram in business turnover of 1,641 lots.
October gold gained Rs 78, or 0.28 per cent to Rs 27,660 per 10 grams in 45 lots.
Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as a decline in equities and the dollar spurred demand for an alternative investment.
Meanwhile, gold added 0.4 per cent to $1,324.15 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in August moved up by Rs 111, or 0.40 per cent to Rs 27,630 per ten gram in business turnover of 1,641 lots.
October gold gained Rs 78, or 0.28 per cent to Rs 27,660 per 10 grams in 45 lots.
Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as a decline in equities and the dollar spurred demand for an alternative investment.
Meanwhile, gold added 0.4 per cent to $1,324.15 an ounce in Singapore.
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First Published: Jul 09 2014 | 12:29 PM IST