New Delhi: Prices of gold rose 0.47% in early trade in the futures market on 27 May, taking cues from firm Asian markets.
At 1115 hours, gold for far-October contract traded 0.47% up at Rs12,880 per kg on the Multi Commodity Exchange (MCX). The contract registered a moderate business volume of 2 kg.
August contract up marginally by 0.30% at Rs12,843 per kg and recorded a business volume of 363 kg while the most active June contract rose 0.36% at Rs12,834 per kg and volume of business stood at 2,036 kg. In Asian markets, gold prices rose $3.70 at $929.70 an ounce.
“Surging crude oil prices and weakening US dollar against major currencies have been pushing precious metal prices higher”, said Devesh Kumar, a trader at MCX.
Meanwhile, in spot market gold traded Rs280 higher at Rs12,890 per 10 gram.