Prices of MCX gold futures gained on Tuesday by a firming trend in overseas markets and a reassuring trend in the domestic spot market on the back of the Dhanteras festive buying season.
At the Multi Commodity Exchange, Gold December futures delivery was trading at Rs 27562 up Rs 147, or 0.54 percent. Prices of Gold touched an intraday high of Rs 27572 and an intraday low of Rs 27462. So far 1640 futures contracts have been traded in morning session.
Gold rallied to the highest by more than five weeks in London since the dollar weakened and the merchants pushed estimates for as the US Fed will raise interest rates. Gold for immediate delivery rose 0.4 percent to $ 1251.63 an ounce at 09:46 am in London. Gold for December delivery gained 0.6 percent to $ 1,251.60 on the Comex in New York.
SPDR Gold Holdings ialso fell 8.9 metric tons to a five-year low of 1,658.4 tons yesterday
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