Moneycontrol
Feb 01, 2016 01:00 PM IST | Source: PTI

Gold rises Rs 50 in futures trade on global cues

The metal for delivery in far-month April contracts also rose by a similar margin to trade at Rs 26,795 per 10 gm in a turnover of 169 lots.

Gold rises Rs 50 in futures trade on global cues

Gold prices rose by Rs 50 to Rs 26,688 per 10 gram in futures trade after speculators widened positions amid a better trend overseas. Gold for delivery in current month was trading higher by Rs 50, or 0.19 percent to Rs 26,88 per 10 gram in a turnover of 78 lots at the Multi Commodity Exchange.

The metal for delivery in far-month April contracts also rose by a similar margin to trade at Rs 26,795 per 10 gm in a turnover of 169 lots.


Analysts said the rise in gold prices at futures trade was mostly in tune with a firming trend overseas after data showed a further contraction in China's manufacturing, adding to the case for safe-haven assets as investors boost holdings.

Meanwhile, gold rose as much as 0.4 percent to USD 1,122.40 an ounce in Singapore.

Sections
Follow us on
Available On