Gold price rises 0.58% on firm global cues

Gold futures prices today rose by 0.58 per cent to Rs 26,056 per 10 grams.

Written by PTI | New Delhi | Published:July 3, 2013 11:38 am

Gold futures prices today rose by 0.58 per cent to Rs 26,056 per 10 grams as speculators enlarged positions,largely in tandem with a firming trend overseas.

Covering-up of short positions by speculators at prevailing levels also influenced gold futures prices here,traders said.

At the Multi Commodity Exchange,metal pirces for delivery in August gained Rs 149,or 0.58 per cent,to trade higher at Rs 26,056 per 10 gm in a turnover of 1,047 lots.

Similarly,the metal prices for delivery in far-month October edged up by Rs 139,or 0.53 per cent,to Rs 26,161 per 10 gm,clocking a business volume of 27 lots.

Analysts attributed gains in the precious metal at futures trade to a firm trend in the overseas markets as physical gold purchases continue to increase at lower prices.

Globally,gold rose as much as 0.22 per cent to USD 1,245.10 an ounce in Singapore today.

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