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Festive demand, global cues push up gold futures
Tracking a firm global trend, gold futures prices rose by Rs 77 to Rs 27,120 per 10 grams today on fresh buying by speculators to meet the ongoing festive demand.
Updated on: Oct 24, 2011, 13:43:10 IST
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Tracking a firm global trend, gold futures prices rose by Rs 77 to Rs 27,120 per 10 grams today on fresh buying by speculators to meet the ongoing festive demand.
At the Multi Commodity Exchange, gold for delivery in February rose by Rs 77, or 0.28%, to Rs 27,120 per 10 grams, with a business turnover of 195 lots. Similarly, the precious metal for delivery in December gained Rs 69, or 0.26%, to Rs 26,837 per 10 grams, with a trade volume of 8,404 lots.
Market analysts said fresh buying by speculators on pick-up in demand in the spot market following ongoing festive season and reports of a firming trend in global markets mainly led to the rise in gold futures prices. Meanwhile, gold gained 0.3% to $1,647.55 an ounce in Melbourne.
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