Gold futures jump to Rs 30,366 on firm global cues
New Delhi, Jan 25:
Gold prices rose 0.5 per cent to Rs 30,366 per 10 grams at the futures trade as speculators built up fresh positions, tracking a firm trend overseas.
At the Multi Commodity Exchange, gold for delivery in far-month April traded higher by Rs 150 or 0.5 per cent at Rs 30,366 per 10 grams in a business turnover of 36 lots. On similar lines, the metal for delivery in February went up by Rs 147 or 0.49 per cent at Rs 30,396 per 10 grams in 176 lots.
Analysts said traders created fresh positions in step with a firm global trend, as the dollar weakened to near three-year lows in the wake of comments by US Treasury secretary Steven Mnuchin that he welcomed a weaker currency. Globally, gold held firm near 1-1/2 year highs at $1,363.60, by rising 0.43 per cent in Singapore.
(This article was published on January 25, 2018)
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