Gold futures up by 0.3% on spot demand
Speculators covered-up their short positions at prevailing levels amdist pick-up in demand in spot markets
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Gold futures recovered by 0.27% to Rs 25,857 per 10 grams today as speculators covered-up their short positions at prevailing levels amdist pick-up in demand in spot markets.
At the Multi Commodity Exchange, gold for delivery in December rose by Rs 69, or 0.27%, to Rs 25,857 per 10 grams with a business turnover of 609 lots.
In a similar fashion, the metal for delivery in February next year moved up by Rs 42, or 0.16%, to Rs 26,012 per 10 grams with a trade volume of 7 lots.
Market analysts said the rise in gold futures was mainly due to covering-up of short positions by speculators at prevailing levels and a firming trend at the spot markets on the back of pick-up in demand but a weak trend overseas, capped the gains.
Meanwhile, gold fell as much as 0.4% to $1,157.54 an ounce in Singapore today.
At the Multi Commodity Exchange, gold for delivery in December rose by Rs 69, or 0.27%, to Rs 25,857 per 10 grams with a business turnover of 609 lots.
In a similar fashion, the metal for delivery in February next year moved up by Rs 42, or 0.16%, to Rs 26,012 per 10 grams with a trade volume of 7 lots.
Market analysts said the rise in gold futures was mainly due to covering-up of short positions by speculators at prevailing levels and a firming trend at the spot markets on the back of pick-up in demand but a weak trend overseas, capped the gains.
Meanwhile, gold fell as much as 0.4% to $1,157.54 an ounce in Singapore today.
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First Published: Nov 13 2014 | 11:55 AM IST