Gold prices rose marginally by 0.11%, to Rs 27,537 per 10 grams

Gold prices rose marginally by 0.11%, to Rs 27,537 per 10 grams in futures trade today as speculators created fresh position on the back of a firming trend overseas amid weakness in the rupee.

At the Multi Commodity Exchange, gold for delivery in February rose by Rs 30, or 0.11%, to Rs 27,537 per 10 grams, with a business turnover of 636 lots.

Similarly, the metal for delivery in April gained Rs 31, or 0.10%, to Rs 27,899 per 10 grams, with a business volume of 74 lots.

Marketmen said the rise in gold prices was mainly due to a weak trend in global markets amid fall in rupee’s value, which plays an important role in fixing the landed cost of the dollar-traded metal.

Meanwhile, gold was trading 0.1% higher at $1,641.07 an ounce in Singapore in early trade today. – PTI

Tags: Gold analysis, Gold future prices, Gold futures, Gold investment, Gold news, Gold price, gold price forecast, Gold prices, India gold, India gold price, price of gold, Spot gold, Spot gold price

Posted by admin on Jan 16 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