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Gold price rises Rs 200 to Rs 28,418 in futures trade

Gold prices rose by Rs 227 to Rs 28,418 per ten grams in futures trade Tuesday largely on speculative positions created by participants amid a firming trend at the spot market.



New Delhi: Gold prices rose by Rs 227 to Rs 28,418 per ten grams in futures trade Tuesday largely on speculative positions created by participants amid a firming trend at the spot market.

At the Multi Commodity Exchange (MCX), gold for delivery in far-month October was up by Rs 227, or 0.81 percent, to Rs 28,418 per 10 gm in business turnover of 143 lots.

The metal for delivery in August contracts moved up by Rs 225, or 0.80 percent, to Rs 28,236 per 10 gm in a turnover of 2,071 lots.

Analysts said overnight gains in the global market and a firming trend at the domestic spot market as weakening rupee, which slumped to an all-time low of Rs 58.90 to a dollar made gold costlier, mainly influenced gold prices at futures trade here.

Meanwhile, gold rose by USD 2.40, or 0.17 percent to USD 1,387 an ounce in New York in yesterday's trade.

PTI

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