Gold futures gain Rs 33 to Rs 53,017

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Gold prices on Wednesday increased by Rs 33 to Rs 53,017 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 33 or 0.06 per cent at Rs 53,017 per 10 grams in a business turnover of 15,342 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Globally, gold was trading 0.32 per cent higher at USD 1,769.30 per ounce in New York.

Zinc futures down on muted demand

Zinc prices on Wednesday fell by 0.02 per cent to Rs 263.45 per kilogram in the futures trade as speculators reduced their exposure taking negative cues from the spot market.

On the Multi Commodity Exchange, zinc contracts for December delivery traded lower by 5 paise or 0.02 per cent at Rs 263.45 per kg in 3,090 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.

Aluminium futures fall on low demand

Aluminium prices on Wednesday fell 30 paise to Rs 206.60 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market.

On the Multi Commodity Exchange, aluminium for delivery in December declined by 30 paise or 0.14 per cent to Rs 206.60 per kg in 5,228 lots.

Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Cottonseed oil futures fall on soft demand

Cottonseed oil cake prices on Wednesday declined by Rs 19 to Rs 2,771 per quintal in futures trade as participants reduced their bets following weak trends in spot markets.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery fell by Rs 19 or 0.68 per cent to Rs 2,771 per quintal with an open interest of 32,880 lots.

Analysts said sell-off by participants at existing levels amid subdued trend in market mainly weighed on cottonseed oil cake prices.