Gold price holds above Rs 27,600 in futures trade
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Gold price holds above Rs 27,600 in futures trade

Last Updated: Tuesday, June 24, 2014, 13:33
 
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Gold price holds above Rs 27,600 in futures trade
Zee Media Bureau

Gold prices moved in tight range and quoted at Rs 27,678 per 10 gram in futures trade Tuesday.

At the Multi Commodity Exchange (MCX), gold for delivery in August contracts edged higher by Rs 10, or 0.04 percent, to Rs 27,678 per 10 gram.

Gold in overseas markets, which normally set price trend on the domestic front, last quoted down USD 2.60 or 0.20 percent at USD 1,315.70 an ounce.

Investor sentiment towards gold, often seen as an investment-hedge, has improved with SPDR Gold Trust, the world`s top gold-backed exchange-traded fund, notching a 2.4 tonne increase in holdings to 785.02 tonnes on Monday.

Meanwhile, gold prices rose Rs 60 to Rs 28,785 per ten grams at Delhi bullion market on the back of increased buying by jewellers amid wedding season demand even as the metal weakened overseas.

However, silver declined by Rs 100 to Rs 44,800 per kg on reduced offtake by industrial units.



First Published: Tuesday, June 24, 2014, 13:31


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