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Gold appreciates to Rs 14,636 per 10 grams

Gold prices improved in the futures markets on Monday by adding 0.54 pct as traders enlarged their positions following depreciating rupee.

Written by Agencies | Mumbai | Published: May 25, 2009 1:21:54 pm

Gold prices improved in the futures markets on Monday by adding 0.54 per cent as traders enlarged their positions following depreciating rupee,but weak global markets restricted the uptrend.

At 1230 hrs on the Multi Commodity Exchange,October contract for gold rose by 0.53 per cent to Rs 14,636 per 10 grams,clocking a business volume of one lot at,after losing 1.6 per cent last week.

For August contract prices rose by 0.32 per cent to Rs 14,552 per 10 grams in trading of 580 lots and the most active June contract by 0.30 per cent to Rs 14,557 per 10 grams in 2,046 lots.

Marketmen said a weak rupee against the US currency made the dollar-quoted asset expensive.

They said the rupee halted its six-day rally following its biggest weekly gain in 13 years.

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