Gold futures rise on positive global cues

Gold futures rise on positive global cues
PTI
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First Published: Tue, May 05 2009. 04 54 PM IST
Updated: Tue, May 05 2009. 04 54 PM IST
New Delhi: Gold futures inched up by 0.28 cent in early trade on the Multi Commodity Exchange (MCX) on Tuesday on steady buying by speculators influenced by a firming global trend.
At 11:00am, on the MCX, gold for the most-active June contract gained 0.28% to Rs14,477 per ten gram, in trading of 462 lots.
The precious metal for the far-month August contract traded higher by the same margin at Rs14,477 per ten gram, with a trading volume of 13 lots.
Traders said sustained buying by speculators and reports of a firming global trend mainly led to the rise in gold prices.
A pick-up in demand in the spot markets for the current marriage season also supported the uptrend, they added.
Meanwhile, gold traded higher in the Asian markets at $903.50 an ounce against Monday’s close of $894.
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First Published: Tue, May 05 2009. 04 54 PM IST
More Topics: Futures | Gold | Commodity | Bullion | Money |