Gold futures prices surged by Rs 97 to trade at Rs 20,880 per ten grams today, as speculators enlarged their positions, taking firm cues from the Asian region.
Firming trend at the domestic markets, driven by the ongoing marriage season demand also supported the upside gold futures.
At the Multi Commodity Exchange counter, gold for delivery in April edged up by Rs 97, or 0.44 per cent to Rs 20,880 per 10 grams.
Gold for delivery in February also traded higher by Rs 113, or 0.43 per cent to Rs 20,706 per 10 grams. It ended 0.50 per cent higher at Rs 20,593 per 10 grams in the previous session.
Analysts said firm trend in the Asian region, where gold shot up by 0.55 per cent to USD 1,402.20 an ounce as investors sought a protection of wealth from Europe's debt woes. China's decision to hold off raising interest rates may boost demand, also influenced gold futures here.
Wednesday, December 15, 2010
Gold futures up on firm Asian cues
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