Gold & Silver

Gold futures jump to Rs 31,394 on spot demand

PTI New Delhi | Updated on October 10, 2012 Published on October 10, 2012

Gold_874346a.jpg

Gold prices rose Rs 73 to Rs 31,394 per 10 grams at the futures trade today as speculators created fresh positions on hopes of a rise in spot market demand for the coming festival and marriage season.

However, a weak global trend restricted the gains.

At the Multi Commodity Exchange, gold for delivery in December rose Rs 73 or 0.23 per cent to Rs 31,394 per 10 grams with a business turnover of 12,002 lots.

Similarly, the metal for delivery in February traded higher by a same margin to Rs 31,747 per 10 grams in 374 lots.

Marketmen said fresh positions created by speculators on expectations of a rise in demand at the spot market during the coming festival and marriage season mainly led to a rise in gold prices at the futures trade.

Published on October 10, 2012
This article is closed for comments.
Please Email the Editor