Gold shines for 2nd day; regains Rs 27,000-level in futures trade
New Delhi: Gold prices maintained their gaining momentum by moving higher by 0.38 percent to Rs 27,016 per 10 gm in futures trade Friday on continued buying, supported by firming global trends and re-emerged retail demand.
At the Multi Commodity Exchange (MCX), gold for delivery in June rose by Rs 102, or 0.38 percent, to Rs 27,016 per 10 grams, with a business turnover of 1,757 lots.
In a similar fashion, the metal for delivery in August moved up by Rs 94, or 0.34 percent, to Rs 27,350 per 10 grams, with a trade volume of 116 lots.
Market analysts said the rise in gold futures was mainly in line with a firming trend in overseas markets on optimism that stimulus will be sustained, countering a drop in bullion- backed exchange-traded products.
Meanwhile, gold rose by 0.70 per cent to USD 1,477.25 an ounce in Singapore in early trade today.