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Gold futures gain by 0.8% on global trend

Gold surged for a fourth day as investors sought precious metals as safe-haven assets

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Press Trust of India New Delhi
Last Updated : Jul 04 2016 | 11:48 AM IST
Continuing its upward journey, gold prices rose by another Rs 260 to Rs 32,040 per 10 gram in futures trade today as participants created more bets amid a firm global trend.

At the Multi Commodity Exchange, gold for delivery in far-month October was trading higher by Rs 260 or 0.82% to trade at Rs 32,040 per 10 gram in a business turnover 102 lots.

In a similar fashion, the yellow metal for delivery in August shot up by Rs 249 or 0.79% to Rs 31,712 per 10 gm in 922 lots.

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Analysts attributed persistent rise in gold prices at futures trade to a firming trend overseas where gold surged for a fourth day as investors sought precious metals as safe-haven assets.

Meanwhile, gold climbed 1.2% to $1,357.63 an ounce in Singapore, near the highest level in over two years.

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First Published: Jul 04 2016 | 11:28 AM IST

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