Gold & Silver

Gold futures rise to Rs 29,778 on positive global cues

PTI New Delhi | Updated on January 08, 2018 Published on October 10, 2017

Gold futures were trading up 0.18 per cent at Rs 29,778 per ten grams as traders raised bets owing to positive cues from the global markets.

At the Multi Commodity Exchange, gold for delivery in February next year rose Rs 54 or 0.18 per cent to Rs 29,863 per ten grams in a business turnover of 9 lots. Similarly, the metal for delivery in December traded higher by Rs 50 or 0.15 per cent at Rs 29,778 per ten grams in 378 lots.

Analysts attributed the rise in gold prices to a firm trend overseas where it rose to the highest in more than a week as an uptick in geopolitical uncertainty increased demand for the precious metal as a safe-haven but growing hopes that the US Federal Reserve will hike interest rates for the third time this year capped the gains.

Meanwhile, gold was trading 0.26 per cent higher at $1,287 an ounce in Singapore today.

Published on October 10, 2017
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