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Gold futures rise to Rs 28,974 per 10 grams

Last Updated: Wednesday, May 7, 2014 - 12:15

New Delhi: Gold prices rose by 0.30 percent to Rs 28,974 per 10 grams in futures trade on Wednesday as speculators created fresh positions taking positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in June moved up by Rs 87, or 0.30 percent, to Rs 28,974 per 10 grams, with a business turnover of 205 lots.

Similarly, the metal for delivery in far-month August moved up by Rs 78, or 0.28 percent, to Rs 28,340 per 10 gram, with a trade volume of five lots.

Marketmen said increased positions built-up by speculators after the precious metal rallied to three-week highs in global markets with the conflict between Russia and Ukraine increasing safe haven demand, influenced gold futures here.

Globally, gold in Singapore climbed 0.40 percent to USD 1,312.67 an ounce.

First Published: Wednesday, May 7, 2014 - 12:15
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