Yellow Metal Shines On Jewellers’ Buying, Positve Global Cues


Gold futures were trading higher during the afternoon trade in the domestic market on Monday as investors and speculators widened their positions in the precious metal on positive cues from global markets.

Analysts attributed the recovery in gold prices to increased buying by ornament makers and retailers, triggered by ongoing festive season. Moreovever, a firm global trend where the precious metal rebounded from its biggest weekly decline this year and dollar's fall for a second day too supported the upmove.

At the MCX, gold futures for December 2016 contract is trading at Rs 29754 per 10 grams, up by 0.60 per cent, after opening at Rs 29650, against a previous close of Rs 29578. It touched the intra-day high of Rs 29798.

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Suhani Verma

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