Gold rises over 1% in futures trade on firm global trend

Gold rises over 1% in futures trade on firm global trend
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First Published: Wed, Oct 08 2008. 12 36 PM IST
Updated: Wed, Oct 08 2008. 12 36 PM IST
By PTI
New Delhi: Gold price today rose in futures trading on increased buying by traders in line with firming trend in the Asian market.
Market sentiment turned better as gold prices in Asian market traded higher at $882.00 an ounce from previous level of $879.
Gold for February contract moved up by 1.31% at Rs13,770 per ten gram on the Multi Commodity Exchange, in a trading volume of 145 lots.
The precious metal for December month contract also shot up by 1.29% at Rs13,687 per ten gram in a trading volume of 6,351 lots.
Marketmen said increased buying by traders in line with firming Asian trend mainly pushed up gold prices in the futures market here.
They said tumbling stock market too had positive impact on the prices as some investors shifting their funds from melting equity to rising gold.
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First Published: Wed, Oct 08 2008. 12 36 PM IST