Comments
Gold prices were higher by 0.18 per cent at Rs 28,318 per 10 grams at the futures trading today as participants enlarged positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month April gained Rs 51 or 0.18 per cent to Rs 28,318 per 10 grams in a business turnover of 121 lots.
Likewise, the metal for delivery in February traded higher by Rs 41 or 0.14 per cent at Rs 28,394 per ten grams in 210 lots.
Analysts said a firm trend overseas where gold strengthened, as the dollar slipped against a basket of major currencies and sluggish economic data from the US, boosted the demand for a safe haven.
Pick-up in demand from local jewellers at the domestic spot market further fuelled the upside, they said.
Meanwhile, gold rose 0.21 per cent to $1,193.80 in Singapore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.