Gold futures rose by Rs 39 to Rs 27,514 per 10 grams today

Gold futures rose by Rs 39 to Rs 27,514 per 10 grams today as speculators created fresh positions on the back of a firming trend overseas and rising demand in the domestic spot market.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 39, or 0.14 per cent, to Rs 27,514 per 10 grams, with a business turnover of 3,122 lots.

In a similar fashion, the metal for delivery in far-month April gained Rs 35, or 0.13 per cent, to Rs 27,884 per 10 grams, with a trading volume of 200 lots.

Analysts attributed the rise in gold futures to a firming trend overseas after data that added to signs that the US economy is recovering weakened the dollar, spurring demand for precious metal as an alternative investment

In addition, a pick-up in demand in the domestic spot market also supported the upside in gold prices, they said.

Meanwhile, gold rose by 0.4 per cent to USD 1,666.10 an ounce in early trade in Singapore – PTI

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Posted by admin on Jan 19 2012. Filed under Gold price. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry