Gold April futures rise by 0.4% on a firming trend overseas

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Gold April futures rise by 0.4% on a firming trend overseas

Gold prices climbed on futures trade today as participants engaged in expanding positions on a firming trend overseas.

Gold for delivery in April contracts gained Rs 110, or 0.42%, to trade at Rs 26,593 per 10 grams. Gold rate hit an Intraday high of Rs 26614 and an Intraday low of Rs 26562. So far 1127 contracts have been traded on the Multi Commodity Exchange.

KheloMCX Commodity Analysts said that a reassuring trend in a global marketplace where gold rallied above $ 1,200 an ounce as Saudi Arabia and its allies began bombing targets in Yemen, fueling demand for safe haven, supported the rise of precious metal trading in MCX future here.

In the national capital, gold of 99.9 and 99.5 per cent purity jumped by Rs 400 each to Rs 26,950 and Rs 26,800 per 10 grams, respectively.

Furthermore, the purchase of the festive season by retailers, the weakness of the rupee against the dollar and change funds falling equity markets influenced prices of precious metals, they said.

The markets were closed on Wednesday as traders failed to do business to protest the budget proposal for the PAN need for buying worth of gold over Rs 1 lakh.

Gold in Singapore, rose 0.5 per cent to $1,201.60 an ounce – the highest price since March 5.

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MCX Gold June futures fall 0.40% at Rs 26,436 on global cues

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MCX Gold June futures fall 0.40% at Rs 26,436 on global cues

Today dollar – which had fallen initially – was up 0.2 per cent against a basket of currencies, after US data showed an uptick in underlying inflation pressures and gains in home prices.

Touching the upper level of the international market after nearly two weeks, the pressure seems to gold. MCX gold with 0.30 per cent of weakness in the domestic market, it is trading around Rs 26,275.

At MCX June futures contract was trading at Rs 26,436 down Rs 106, or 0.40 percent. Gold touched an intraday high of Rs 26469 and an intraday low of Rs 26431. So far 140 contracts have been traded on the Multi Commodity Exchange.

Besides, at global market Gold prices rose, on growing expectations that a US interest rate increase could be pushed to September.

Spot gold climbed to its highest level since March 6 at $1,195.30 an ounce. While,  US gold futures for April delivery rose $3.70, or 0.3 per cent, to settle at $1,187.70 an ounce.

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Gold June futures rise 0.48% to Rs 26,470 per 10 grams on global cues

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Gold June futures rise 0.48% to Rs 26,470 per 10 grams on global cues

Gold futures prices held on to gains on Tuesday as speculators created fresh positions amid positive cues from overseas markets, after consumer price inflation in the U.S. rose in line with expectations in February.

At the Multi Commodity Exchange, gold for delivery in far-month June rose by 0.48 per cent to Rs 26,470 per 10 grams, while delivery in April was up by Rs 108, or 0.41 per cent, to Rs 26,306 per ten grams.

In the national capital, gold of 99.9 and 99.5 per cent purity soared by Rs 100 each to Rs 26,550 and Rs 26,400 per 10 grams, respectively. Bullion Dealers said increased buying by jewelers to meet the rising demand amid a firm global trend mainly boosted sentiment here.

Globally, on New York,  gold futures for April delivery tacked on $4.20, or 0.35%, to trade at $1,191.90 a troy ounce. Meanwhile, silver futures for May delivery advanced 8.7 cents, or 0.52%, to trade at $16.97 a troy ounce.

The Labor Department said US consumer prices rose 0.2% last month, meeting expectations and after a drop of 0.7% in January. Year after year, consumer prices remained stable in February, compared with expectations of decline 0.1% after falling 0.1% in January.

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MCX Gold June contract trading down at Rs 26,216

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MCX Gold June contract trading down at Rs 26,216

Gold prices slipped from a three-day rally on Monday in the future trade market, amid a weak dollar and caution from the Federal Reserve on the timing of a possible hike in US interest rates.

At the Multi Commodity Exchange, Gold June futures contract quoted up at Rs 26,216 down Rs 49, or 0.19 percent. Prices hit an Intraday high of Rs 26238 and an Intraday low of Rs 26187. So far on MCX 57 contracts have been traded.

The gold April contract was trading at Rs 26,117 down Rs 65, or 0.25 percent. So far 704 contracts have been traded in MCX.

In the national capital Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs 50 each to Rs 26,450 and Rs 26,300 per 10 GM, respectively.

Globally, gold futures contract traded lower at $1,182.30 an ounce and silver fell by 0.21 per cent to $16.69 an ounce in Singapore.

Traders said there the next key support level for gold is $ 1,200 higher. Gold was down to a minimum of four months before the Fed met last week referred mounted higher interest rates in the United States, which could dent demand for non-interest bearing bullion. But it has since recovered.

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MCX Gold June futures gains 1% amid a better trend overseas

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MCX Gold June futures gains 1% amid a better trend overseas

Gold prices increased in futures trading today as bullion traders enlarged positions amid a better trend overseas.

Traders said gold bullion recovered from at least three months in the global marketplace after the US Federal Reserve stated that the interest rates could rise at a slower pace than estimated, boosted sentiment.

At the Multi Commodity Exchange, Gold June futures contract was trading at Rs 26040 up Rs 275, or 1.07 percent. Bullion hit an intraday high of Rs 26055 and an intraday low of Rs 26006. So far 143 contracts have been traded on MCX.

Gold of 99.9 and 99.5 per cent purity climbed by Rs 375 and Rs 325 to Rs 26,375 and Rs 26,175 per 10 grams, respectively at the bullion market on brisk buying by jewellers and retailers amid a firm global trend.

Gold in Singapore, rose by 0.9 per cent to $1,177.96 an ounce, from $1,149.57 yesterday.

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MCX Gold June futures gain 0.2% to Rs 25,796 per 10 grams on firm global cues

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MCX Gold June futures gain 0.2% to Rs 25,796 per 10 grams on firm global cues

MCX Gold futures gained today as speculators enlarged positions amid a better trend overseas ahead of the US Federal Reserve’s meet outcome later on the day.

At the MCX, gold futures for delivery in June rose by Rs 40, or 0.15%, to Rs 25,796 per 10 grams. Similarly, delivery in April quoted up by Rs 33, or 0.13%, at Rs 25,650 per 10 grams.

At the bullion market in the national capital today amid a better global trend and subdued demand from jewellers. gold of 99.9 and 99.5 per cent purity fell by Rs 165 each to Rs 26,000 and Rs 25,850 per 10 grams, respectively.

Meanwhile, in Singapore, gold rose to $1,151.35 an ounce.

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Gold August futures prices fall by 0.45% amid weak global cues

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Gold August futures prices fall by 0.45% amid weak global cues

Gold prices on futures trade fell today, as traders engaged in trimming positions amid weak global cues.

KheloMCX Commodity Analysts said that speculators discharge positions on the weak spot demand and a weak tendency overseas, because investors weigh the prospects for higher interest rates in the United States before the Federal Reserve begins a monetary policy meeting two days, mainly put pressure on bullion prices at the national capital.

At the Multi Commodity Exchange,  Gold for August contract was trading at Rs 26060 down Rs 117, or 0.45 percent. Bullion prices touched an intraday sesion high of Rs 26062 and an intraday session low of Rs 26060.

Similarly, at MCX Gold futures for next-month delivery was trading at Rs 25723 down Rs 60, or 0.23 percent. Prices touched an Intraday high of Rs 25734 and an Intraday low of Rs 25711. So far 621 contracts have been traded on MCX.

Globally, gold traded lower at US $1,154.48 an ounce from US $1,154.81 in Singapore, as investors were hesitant to open fresh long positions ahead of the Federal Reserve’s two-day monetary policy meeting due to begin later in the day.

On the Comex, gold futures for April delivery shed $4.00, or 0.35%, to trade at $1,149.20 a troy ounce.

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