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Journalism of Courage
Gold prices recovered by Rs 54 to Rs 30,134 per 10 grams in futures trading today as speculators covered-up positions at prevailing levels even as metal weakened overseas.
At the Multi Commodity Exchange,gold for delivery in August rose by Rs 54,or 0.18 per cent,to Rs 30,134 per 10 grams,with a business turnover of 1,401 lots.
Similarly,the metal for delivery in October moved up by Rs 55,or 0.18 per cent,to Rs 30,422 per 10 grams,with a business turnover of 88 lots.
Market analysts attributed the rise in gold futures to covering-up of short positions by speculators but weak trend overseas capped the gains.
Meanwhile,gold price traded lower by 0.07 per cent to USD 1,584.20 an ounce in Singapore.
