Comments
Tracking a firming global trend, gold prices rose Rs 138 to Rs 25,869 per 10 grams at the futures trade today on fresh buying by speculators.
Trading sentiment remained firm as gold futures gained in global markets after the Federal Reserve, seeking to bolster the economy, pledged to keep its benchmark interest rate at a record low through at least mid-2013, boosting demand for the metal as a haven investment.
At the Multi Commodity Exchange, gold for delivery in October rose Rs 138 or 0.54 per cent to Rs 25,869 per 10 grams with a business turnover of 25,725 lots.
Likewise, the metal for delivery in December traded higher by Rs 85 or 0.33 per cent to Rs 26,105 per 10 grams with an open interest of 1,695 lots.
Market analysts attributed the rise in gold prices to a firming global trend.
Meanwhile, gold for December delivery climbed 1.6 per cent to $1,770 an ounce in New York.
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.