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Last Updated : May 27, 2019 01:29 PM IST | Source: PTI

Gold prices up on global cues, spot demand

On the Multi Commodity Exchange, gold for delivery in June contracts was trading higher by Rs 97, or 0.31 percent, to Rs 31,627 per 10 gram, in a business turnover of 5,569 lots.

Gold prices rose by Rs 97 to Rs 31,627 per 10 gram in futures trade on Monday as speculators widened their bets, tracking a firm trend overseas.

On the Multi Commodity Exchange, gold for delivery in June contracts was trading higher by Rs 97, or 0.31 percent, to Rs 31,627 per 10 gram, in a business turnover of 5,569 lots.

Similarly, the delivery for August contracts was up by Rs 88, or 0.28 percent, to Rs 31,774 per 10 gram, with a business volume of 10,639 lots.

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Analysts said raising of bets by participants, taking cues from global markets mainly pushed up gold prices here. A weaker rupee also strengthened the gold prices.

Globally, the yellow metal prices gained steam on the speculations of a prolonged Sino-US trade war and poor US economic data.

The precious metal rose 0.15 percent to trade at USD 1,291.10 an ounce in New York.

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First Published on May 27, 2019 01:23 pm
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