Gold futures strong, up on firm global cues

Gold futures strong, up on firm global cues
PTI
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First Published: Thu, May 07 2009. 01 18 PM IST
Updated: Thu, May 07 2009. 01 18 PM IST
New Delhi: Gold futures inched up by 0.19% in early trade on the Multi Commodity Exchange (MCX) on Thursday, extending gains for the third straight session, on sustained buying by speculators influenced by a firming global trend.
At 1130 hrs on the MCX, gold for the far-month August contract gained 0.19% to Rs14,510 per ten gram in a trading volume of 62 lots.
The precious metal for the June contract traded higher by 0.17% to Rs14,510 per ten gram, in 1,352 lots.
Traders said sustained buying by speculators to meet the ongoing marriage-season demand in the spot markets, mainly boosted trading sentiment in futures.
The positive trend in the global markets also influenced trading activity here, they added.
Meanwhile, gold prices in Asia traded higher at $911.30 an ounce against the previous level of $902.50.
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First Published: Thu, May 07 2009. 01 18 PM IST
More Topics: Commodity | Gold | Gold futures | India | Asia |