Gold futures up on physical demand hopes
10/06/2014 11:44
Gold futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market amid hopes that recent declines in prices of the bullion may spur demand.
Acceleration in inflation in China in May also boosted the appeal of the precious metal, which is a hedge against rising prices. Consumer prices in China rose 2.5 per cent, year on year in May 2014, up from an annual 1.8 per cent rise in April 2014.
Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,054 per 10 grams, up by 0.28 per cent, after opening at Rs. 25,984, against the previous closing price of Rs 25,982. It touched an intra-day high of Rs 26,069. (At 11:18 AM).
10/06/2014 11:44
Gold futures rose in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market amid hopes that recent declines in prices of the bullion may spur demand.
Acceleration in inflation in China in May also boosted the appeal of the precious metal, which is a hedge against rising prices. Consumer prices in China rose 2.5 per cent, year on year in May 2014, up from an annual 1.8 per cent rise in April 2014.
Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,054 per 10 grams, up by 0.28 per cent, after opening at Rs. 25,984, against the previous closing price of Rs 25,982. It touched an intra-day high of Rs 26,069. (At 11:18 AM).
