Gold & Silver

Marginal rise in gold futures

PTI New Delhi | Updated on October 14, 2013

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Gold futures prices recovered by 0.11 per cent to Rs 28,395 per 10 gram today as speculators enlarged their positions in tune with a better trend overseas.

On the Multi Commodity Exchange, gold for delivery in December was up by Rs 30 or 0.11 per cent to Rs 28,395 per 10 gram with a business turnover of 345 lots.

In a similar fashion, the metal for delivery in far-month February gained Rs 26 or 0.09 per cent to Rs 28,150 per 10 gram with a trading volume of seven lots.

Market analysts said that the rise in gold futures was mainly in line with a firm trend overseas as US Senate leaders struggled to draft an accord to increase the debt limit and avert a default before October 17 deadline.

Meanwhile, gold rose 0.5 per cent to $1,279.05 an ounce in Singapore today after dropping to $1,260.61 on October 11, the lowest since July 11, on expectations that an agreement would be reached.

Published on October 14, 2013

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