Gold inches up on firming global cues

Gold inches up on firming global cues

New Delhi: Tracking a firm global trend, gold prices edged up by 0.86% in the futures market on 26 September, as traders enlarged their positions to meet upcoming seasonal demand.

Gold for the most active December month contract gained the most by rising 0.86% at Rs13,123 per 10 gram on the Multi Commodity Exchange. The contract recorded business volume of 1,851 lots.

The precious metal for delivery in October inched up by 0.81% at Rs13,018 with trading volume of 6,801 lots, while the far-month February contract too remained in a positive zone with gain of 0.73% at Rs13,202 in trading of four lots.

Traders enlarging their positions to meet coming festivals such as Durga Pooja and Diwali mainly led to rise in gold futures prices.

They said fall in dollar in the global market, too, supported the precious metal prices in futures market here.