Comments
Taking positive cues from global markets, gold prices rose sharply by Rs 233 to Rs 26,370 per 10 grams at the futures trade today as participants created speculative positions.
On the Multi Commodity Exchange, gold for delivery in April shot up by Rs 233 or 0.89 per cent to Rs 26,370 per 10 grams in a business turnover of 717 lots.
In a similar fashion, the metal for delivery in June gained Rs 226 or 0.86 per cent to Rs 26,527 per 10 grams in 15 lots.
Analysts said the rise in gold prices at the futures trade was mostly due to a firm trend overseas after minutes from the Federal Reserve’s January meeting signalled many officials were inclined to keep the interest rates near record lows for longer.
Meanwhile, the yellow metal added as much as 0.4 per cent to $1,217.78 an ounce in Singapore.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.