Gold futures up on firm global cues
01/07/2014 12:00
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 as assets in the biggest gold-backed exchange traded fund rose to the highest level since April 29, up to 790.7 metric tons on Monday, signaling a pickup in investment demand for the bullion.
All eyes are on the US manufacturing data which may show a pickup in the world’s biggest economy.
Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,860 per 10 grams, up by 0.30 per cent, after opening at Rs. 27,867, against the previous closing price of Rs 27,776. It touched an intra-day high of Rs 27,929. (At 11:37 AM).
01/07/2014 12:00
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 as assets in the biggest gold-backed exchange traded fund rose to the highest level since April 29, up to 790.7 metric tons on Monday, signaling a pickup in investment demand for the bullion.
All eyes are on the US manufacturing data which may show a pickup in the world’s biggest economy.
Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,860 per 10 grams, up by 0.30 per cent, after opening at Rs. 27,867, against the previous closing price of Rs 27,776. It touched an intra-day high of Rs 27,929. (At 11:37 AM).
