Gold futures rise 0.2% amid positive global cues
Analysts attributed the rise in gold prices to a firming trend overseas where gold rose to trade near two-month high on increased safe-haven demand as further signs of slowing growth in China spurred losses in equities.
Gold futures were up by 0.20% to Rs 26,149 per 10 grams as traders raised bets amid positive cues from the global markets.
At the Multi Commodity Exchange of India (MCX), gold for delivery in far-month April rose by Rs 52 or 0.20% to Rs 26,149 per 10 grams in a business turnover of 26 lots. Similarly, the metal for delivery in February contracts traded higher by Rs 47 or 0.18% to Rs 26,029 per 10 grams in 789 lots.
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Analysts attributed the rise in gold prices to a firming trend overseas where gold rose to trade near two-month high on increased safe-haven demand as further signs of slowing growth in China spurred losses in equities.
Meanwhile, gold advanced 0.4% to $1,108.65 an ounce (nearly Rs 74,068.91) in Singapore.