Gold rises 0.7% in futures trade on global cues
Speculators created fresh positions after the precious metal climbed to almost two-week high in global markets
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Gold prices rose 0.72% to Rs 27,080 per 10 grams in futures trade today as speculators created fresh positions after the precious metal climbed to almost two-week high in global markets.
At the Multi Commodity Exchange, gold for delivery in February next year was up by Rs 194, or 0.72%, to Rs 27,080 per 10 grams in a business turnover of six lots.
The metal for delivery in December moved up by Rs 187, or 0.70%, to Rs 26,924 per 10 grams in a turnover of 836 lots.
Analysts said a firming trend in the precious metal overseas where it soared to two-week high as Federal Reserve expressed concern that the US economy may be at risk from a global slowdown, weakening the dollar and boosting haven demand, influenced gold prices at futures trade here.
Meanwhile, gold rose by 0.40% to $1,225.60 an ounce in Singapore, the highest since September 26.
At the Multi Commodity Exchange, gold for delivery in February next year was up by Rs 194, or 0.72%, to Rs 27,080 per 10 grams in a business turnover of six lots.
The metal for delivery in December moved up by Rs 187, or 0.70%, to Rs 26,924 per 10 grams in a turnover of 836 lots.
Analysts said a firming trend in the precious metal overseas where it soared to two-week high as Federal Reserve expressed concern that the US economy may be at risk from a global slowdown, weakening the dollar and boosting haven demand, influenced gold prices at futures trade here.
Meanwhile, gold rose by 0.40% to $1,225.60 an ounce in Singapore, the highest since September 26.
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First Published: Oct 09 2014 | 11:11 AM IST