Gold & Silver

Gold futures recover to Rs 30,320 per 10 gm

PTI New Delhi | Updated on March 12, 2018 Published on November 26, 2013

gold.jpg

Gold futures prices recovered 0.49 per cent to Rs 30,320 per 10 gram today as speculators enlarged their positions, driven by a firm trend overseas as the dollar weakened and lower prices spurred demand in China.

Besides, covering-up of pending short positions by speculators too supported the recovery.

On the Multi Commodity Exchange, gold for delivery in December traded higher by Rs 249 or 0.49 per cent at Rs 30,320 per 10 gram in a business turnover of 643 lots.

Similarly, the metal for delivery in far-month February contracts moved up by Rs 109 or 0.37 per cent to Rs 29,430 per 10 gram in a turnover of 89 lots.

Market analysts said a firm trend in the global market, where gold rebounded from a four-month low as the dollar weakened and lower prices spurred demand in China, the second-largest consumer, helped the precious metal to trade higher at the futures trade here.

Covering-up of short positions by participants too influenced gold futures prices, they said.

Meanwhile, the yellow metal rose 0.6 per cent to $1,258.30 an ounce in Singapore, the highest level since November 20.

Published on November 26, 2013

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
null
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.