Gold rises by 0.7% in futures trade on global cues
Speculators widened positions amid a better trend overseas
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Gold prices rose by Rs 175 to Rs 26,857 per 10 gram in futures trade after speculators widened positions amid a better trend overseas.
At the Multi Commodity Exchange, gold for delivery in October was up by Rs 175, or 0.66%, to Rs 26,857 per 10 gram in business turnover of 1,363 lots.
The metal for delivery in far-month December contracts moved up by Rs 165, or 0.61%, to Rs 27,046 per 10 gm in a turnover of 42 lots.
Analysts said the rise in gold prices at futures trade was mostly in line with a firming trend overseas after a factory gauge in China shrank to a three-year low, deepening concern about the slowdown in the world's second-biggest economy and boosting demand for the metal as a safe haven.
Meanwhile, gold rose as much as 0.7% to $1,142.79 an ounce in Singapore.
At the Multi Commodity Exchange, gold for delivery in October was up by Rs 175, or 0.66%, to Rs 26,857 per 10 gram in business turnover of 1,363 lots.
The metal for delivery in far-month December contracts moved up by Rs 165, or 0.61%, to Rs 27,046 per 10 gm in a turnover of 42 lots.
Analysts said the rise in gold prices at futures trade was mostly in line with a firming trend overseas after a factory gauge in China shrank to a three-year low, deepening concern about the slowdown in the world's second-biggest economy and boosting demand for the metal as a safe haven.
Meanwhile, gold rose as much as 0.7% to $1,142.79 an ounce in Singapore.
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First Published: Sep 01 2015 | 11:22 AM IST