MCX Gold futures rise by 1.1% on global cues

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MCX Gold futures rise by 1.1% on global cues

MCX Gold prices were trading in futures trade as market players created fresh positions, taking positive cues from the weak global market.

At the Multi Commodity Exchange, gold for delivery in June was trading Rs 305, or 1.15% higher, at Rs 26,902 per 10 grams. Prices touched a session high of Rs 27,049 and low of Rs 26,645. So far 6,582 futures contracts have been traded in MCX.

The metal for delivery in four-month August was trading at Rs 27,103 up Rs 358, or 1.34 percent. Prices touched an Intraday high of Rs 27208 and an Intraday low of Rs 27033.

In the national capital, gold of 99.9 per cent and 99.5 per cent purity climbed by Rs 240 each to Rs 27,250 and Rs 27,100 per 10 grams, respectively, a level last seen on March 2.

Besides, increased buying by jewellers and retailers to meet rising demand supported the uptrend at the bullion market today.

On the Comex New York, gold futures for June delivery soared to $ 1235.50 a troy ounce, its highest Intraday level since Feb. 17.

To contact the KheloMCX Advisory Or Free trial Advisory Visit KheloMCX.com.

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