Gold & Silver

Gold futures rise to Rs 29,400 per 10 gm

PTI New Delhi | Updated on January 20, 2018 Published on February 24, 2016

Gold prices moved up by 0.33 per cent to Rs 29,400 per 10 grams at the futures trade today as participants raised bets amid positive cues from the global markets.

At the Multi Commodity Exchange, gold for delivery in April rose Rs 98 or 0.33 per cent to Rs 29,400 per 10 grams in a business turnover of 959 lots.

In a similar fashion, the metal for delivery in far-month June traded higher by Rs 90 or 0.3 per cent to Rs 29,643 per 10 grams in 12 lots.

Analysts attributed the rise in gold prices to a firm trend overseas, where it held an advance as stocks and crude oil retreated, boosting demand for haven assets, and investors weighed economic data from the US that could provide clues on whether the Federal Reserve will raise interest rates this year.

Globally, gold traded tad higher at $1,229.11 an ounce from $1,226.85 yesterday in Singapore.

Published on February 24, 2016
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