Gold regains 26,000-level in futures trade

Gold regains 26,000-level in futures trade Zee Media Bureau

New Delhi: Gold prices on Friday regained 26,000-level in futures trade as speculators enlarged their positions mostly supported by a rebound in global markets.

Besides, a pick-up in demand in the spot markets and covering-up short positions by speculators also influenced gold prices.

At the Multi Commodity Exchange (MCX), the most-active delivery in June contracts traded Rs 286 higher at Rs 25,986 per 10 grams after touching a high of Rs 26,000.

Similarly, the yellow metal for delivery in August contract gained Rs 297, or 1.14 per cent to Rs 26,421 per ten grams.

Silver for delivery in May also moved higher by Rs 450 to Rs 43,728 per kg.

Market analysts said speculators enlarged their positions in tandem with a firming global trend mainly led to rise in gold prices at futures trade.

Gold in overseas markets, which normally set price trend on the domestic front, rose 2.6 percent to USD 1,426.05 an ounce in London.

With Agency Inputs