Gold futures prices rebound on global cues,up 0.15%

Gold futures prices today recovered by 0.15 per cent to Rs 26,176 per 10 grams.

Written by PTI | New Delhi | Published: June 27, 2013 12:39 pm

Gold futures prices today recovered by 0.15 per cent to Rs 26,176 per 10 grams as participants created fresh positions,after the precious metal rebounded from its lowest levels since August 2010 in the global market.

Besides,covering-up of short positions by speculators at prevailing levels,also influenced gold futures prices here.

At the Multi Commodity Exchange,metal for delivery in August gained Rs 40,or 0.15 per cent,to trade higher at Rs 26,176 per 10 gm in a turnover of 2,262 lots.

Similarly,the metal for delivery in far-month October edged higher by Rs 31,or 0.12 per cent,to Rs 26,483 per 10 gm,clocking a business volume of 57 lots.

Analysts attributed recovery in gold prices at futures trade to the precious metal’s recovery in the global markets after plunging to a 34-month low yesterday’s trade.

Further,covering-up of short positions by speculators also influenced prices,they said.

Globally,gold rose as much as 1.4 per cent to USD 1,244.06 an ounce in Singapore today,after plunging to USD 1,222 yesterday.

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