Gold futures surges by 0.4% on global cues
Speculators created fresh positions on cues from overseas markets
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Gold prices rose by Rs 119 to Rs 26,638 per 10 grams in futures trade today as speculators created fresh positions on cues from overseas markets.
At the Multi Commodity Exchange, gold for delivery in April was up by Rs 119, or 0.45%, to Rs 26,638 per 10 grams, with a business turnover of 698 lots.
Similarly, the metal for delivery in June moved up by Rs 108, or 0.40%, to Rs 26,789 per 10 grams, with a trade volume of six lots.
Marketmen said fresh positions built-up by speculators in line with global trend as falling retail sales in the US cast doubt on the pace of growth in the world's largest economy, boosting demand for a safe-haven, mainly led to a rise in gold futures.
Globally, gold in Singapore traded 0.5% higher at $1,227.76 an ounce in early trade today.
At the Multi Commodity Exchange, gold for delivery in April was up by Rs 119, or 0.45%, to Rs 26,638 per 10 grams, with a business turnover of 698 lots.
Similarly, the metal for delivery in June moved up by Rs 108, or 0.40%, to Rs 26,789 per 10 grams, with a trade volume of six lots.
Marketmen said fresh positions built-up by speculators in line with global trend as falling retail sales in the US cast doubt on the pace of growth in the world's largest economy, boosting demand for a safe-haven, mainly led to a rise in gold futures.
Globally, gold in Singapore traded 0.5% higher at $1,227.76 an ounce in early trade today.
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First Published: Feb 13 2015 | 11:20 AM IST