Gold & Silver

Gold futures marginally up

PTI New Delhi | Updated on January 16, 2012

Gold prices rose marginally by 0.11 per cent, to Rs 27,537 per 10 grams in futures trade today as speculators created fresh position on the back of a firming trend overseas amid weakness in the rupee.

At the Multi-Commodity Exchange, gold for delivery in February rose by Rs 30, or 0.11 per cent, to Rs 27,537 per 10 grams, with a business turnover of 636 lots.

Similarly, the metal for delivery in April gained Rs 31, or 0.10 per cent, to Rs 27,899 per 10 grams, with a business volume of 74 lots.

Marketmen said the rise in gold prices was mainly due to a weak trend in global markets amid fall in rupee’s value, which plays an important role in fixing the landed cost of the dollar-traded metal.

Meanwhile, gold was trading 0.1 per cent higher at USD 1,641.07 an ounce in Singapore in early trade today.

Published on January 16, 2012

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