Gold futures rise marginally on global cues
Traders build positions as metal rallies to three-week high in global markets on Ukraine crisis
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Gold prices rose by 0.30 per cent to Rs 28,974 per 10 grams in futures trade today as speculators created fresh positions taking positive cues from overseas markets.
At the Multi Commodity Exchange, the June contract added Rs 87, or 0.30 per cent, to Rs 28,974 per 10 grams, with a business turnover of 205 lots.
August gold was up Rs 78, or 0.28 per cent, to Rs 28,340 per 10 gram, with a trade volume of five lots.
Marketmen said increased positions build-up by speculators after the precious metal rallied to three-week highs in global markets with the conflict between Russia and Ukraine increasing safe haven demand, influenced gold futures here.
Globally, gold in Singapore climbed 0.40 per cent to $1,312.67 an ounce.
At the Multi Commodity Exchange, the June contract added Rs 87, or 0.30 per cent, to Rs 28,974 per 10 grams, with a business turnover of 205 lots.
August gold was up Rs 78, or 0.28 per cent, to Rs 28,340 per 10 gram, with a trade volume of five lots.
Marketmen said increased positions build-up by speculators after the precious metal rallied to three-week highs in global markets with the conflict between Russia and Ukraine increasing safe haven demand, influenced gold futures here.
Globally, gold in Singapore climbed 0.40 per cent to $1,312.67 an ounce.
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First Published: May 07 2014 | 11:58 AM IST