Gold futures prices up on firm global cues

Gold futures prices rose by 0.18 percent to Rs 26,027 per 10 gm today.

Written by PTI | New Delhi | Published: July 2, 2013 10:39:05 am

Gold futures prices rose by 0.18 per cent to Rs 26,027 per 10 gm today as speculators enlarged their positions on the back of firming global trends.

At the Multi Commodity Exchange,gold for delivery in August rose further by Rs 46,or 0.18 per cent,to Rs 26,027 per 10 grams,with a business turnover of 620 lots.

In a similar fashion,the metal for delivery in far- month October contracts moved up by Rs 26,or 0.10 per cent,to Rs 26,161 per 10 grams,with a trade volume of 25 lots.

Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets on speculation the plunge to a 34-month low and the biggest quarterly drop on record will spur physical demand. Meanwhile,gold rose by 2.60 per cent to USD 1,255.70 an ounce in New York in yesterday’s trade.

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