Gold rises Rs 175, silver climbs Rs 104 on global cues
Gold prices rose by Rs 175 to Rs 26,857 per 10 gram in futures trade after speculators widened positions amid a better trend overseas.
Gold prices rose by Rs 175 to Rs 26,857 per 10 gram in futures trade after speculators widened positions amid a better trend overseas. At the Multi Commodity Exchange, gold for delivery in October was up by Rs 175, or 0.66 per cent, to Rs 26,857 per 10 gram in business turnover of 1,363 lots.
The metal for delivery in far-month December contracts moved up by Rs 165, or 0.61 per cent, to Rs 27,046 per 10 gm in a turnover of 42 lots. Analysts said the rise in gold prices at futures trade was mostly in line with a firming trend overseas after a factory gauge in China shrank to a three-year low, deepening concern about the slowdown in the world's second-biggest economy and boosting demand for the metal as a safe haven. Meanwhile, gold rose as much as 0.7 per cent to USD 1,142.79 an ounce in Singapore.