Comments
Gold prices rose Rs 78 to Rs 27,775 per 10 grams at the futures trade today as speculators enlarged positions taking positive cues from overseas markets.
Besides, increased demand at the domestic spot market for the wedding season, too, supported the upside.
On the Multi Commodity Exchange, gold for delivery in far-month August moved up by Rs 78 or 0.28 per cent to Rs 27,775 per 10 grams with a business turnover of 25 lots.
Similarly, the metal for delivery in June was up by Rs 62 or 0.23 per cent to Rs 27,525 per 10 grams with a trade volume of 253 lots.
Marketmen said speculators widened their positions, tracking a firm trend overseas, which soared to almost a three-month high after weak US data sent the dollar to a four-month low, boosting appeal for precious metals as a safe haven. This mainly influenced the gold futures trade.
Globally, the yellow metal traded at $1,222.87 an ounce in Singapore.
Comments
COMMENT NOW
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.