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Last Updated : Jun 12, 2019 07:24 PM IST | Source: Moneycontrol.com

Gold trades firm on strong global cues in futures trade

The value of the August contract traded so far is Rs 1,777.36 crore and October contract saw value of Rs 37.87 crore.

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Gold prices were trading at Rs 32,744 per 10 grams, up by Rs 112 at 6 pm in futures trade on June 12 as traders increased their bets on firm overseas trends.

The gold rate touched an intraday high of Rs 32,848 and an intraday low of Rs 32,674.

On the Multi Commodity Exchange (MCX), Gold contracts for October delivery were trading at Rs 32,896 per 10 grams, higher by Rs 93 in a business turnover of 2,025 lots, while the August contract saw a business turnover of 16,379 lots.

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The value of the August contracts traded so far is Rs 1,991.88 crore and the value of October's contracts stood at Rs 41.49 crore.

Similarly, Gold Mini contracts for July were at Rs 32,715 per 10 grams,up by Rs 139  in a business turnover of 8,490 lots.

MCX Gold is expected to trade positively with support at Rs 32,600 levels and intermediate support at Rs 32,720 level, according to Motilal Oswal. The broking firm advised its clients to buy on dip, targeting higher resistance at Rs 32,820-32,950 zone.

Spot gold was trading higher by $7.94 at $1334.60 an ounce in New York.

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First Published on Jun 12, 2019 07:23 pm
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