Tuesday, October 6, 2015

Gold extends gains in futures trade on global cues

Continuing its upward march, gold rose another 0.15 per cent to Rs 26,607 per 10 grams at the futures trade today as speculators widened positions, taking positive cues from global markets.

On the Multi Commodity Exchange, gold for delivery in February 2016 was up by Rs 41 or 0.15 per cent at Rs 26,607 per 10 gm in a business turnover of four lots.

The metal for delivery in December moved up by Rs 25 or 0.09 per cent to Rs 26,408 in a turnover of 423 lots.

Market analysts said persistent rise in precious metals in global markets, where it traded at a one-week high after bets shrank for a US rate rise this year, boosted the outlook for the metal which does not pay interest or give returns like other assets such as bonds and equities.

Globally, gold was trading higher at $1,136.50 an ounce in Singapore today from $1,135.75 yesterday.

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