Indian gold futures to extend the previous session’s gains on Tuesday morning

Indian gold futures are likely to extend the previous session’s gains on Tuesday morning, tracking a rise in the overseas markets, though a firm rupee is seen capping the upside.

On Monday, the most-active gold for February delivery on the Multi Commodity Exchange (MCX) gained 0.19 percent to close at 27,382 rupees per 10 grams.

The rupee plays an important role in determining the landed cost of the dollar-quoted gold and copper. The Indian rupee firmed in early trade in anticipation of capital inflows as stocks across Asia rose.

In the world market, gold was trading at $1,578.44 per ounce by 0359 GMT.  - Reuters

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Posted by admin on Jan 3 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