Precious Metals
Gold futures prices rose 0.23 per cent to Rs 27,720 per 10 grams today as speculators engaged in enlarging their positions after precious metal rose to two-month high in global markets.
At the Multi Commodity Exchange gold for delivery in far-month October rose by Rs 63, or 0.23 per cent, to Rs 27,720 per 10 grams with a business turnover of 9 lots.
In a similar fashion, the metal for delivery in August contracts moved up by Rs 39, or 0.14 per cent, to Rs 27,650 per 10 grams with a trade volume of 629 lots.
Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as expectations that borrowing costs in the US will remain low, fueled demand for bullion as an alternative investment.
Meanwhile, gold climbed to USD 1,322.12 an ounce in Singapore, the highest level since April 15, after a 3.3 per cent jump yesterday that was the biggest increase since September last year.
D A I L Y B U Z Z
GOLD Gold futures prices rose 0.23 per cent to Rs 27,720 per 10 grams today as speculators engaged in enlarging their positions after precious metal rose to two-month high in global markets.
At the Multi Commodity Exchange gold for delivery in far-month October rose by Rs 63, or 0.23 per cent, to Rs 27,720 per 10 grams with a business turnover of 9 lots.
In a similar fashion, the metal for delivery in August contracts moved up by Rs 39, or 0.14 per cent, to Rs 27,650 per 10 grams with a trade volume of 629 lots.
Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets as expectations that borrowing costs in the US will remain low, fueled demand for bullion as an alternative investment.
Meanwhile, gold climbed to USD 1,322.12 an ounce in Singapore, the highest level since April 15, after a 3.3 per cent jump yesterday that was the biggest increase since September last year.
