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Gold futures recover on better global cues

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Press Trust of India New Delhi

Gold futures today gained 0.21 per cent on the Multi Commodity Exchange (MCX) as speculators indulged in creating fresh position on the back of firming global trend.

At 1410 hrs, on the MCX platform, gold for the most-active August contract recovered 0.21 per cent to Rs 14,516 per 10 gram with an open interest in 13,942 lots. It had lost 0.26 per cent in previous day's trading.

Similarly, gold for delivery in October-month contract gained 0.19 per cent to Rs 14,520 per 10 gram, clocking a turnover of 1,201 lots.

Marketmen said fresh buying by speculators in the wake of firming trend in the Asian region mainly led to recovery in gold prices at the futures market here.

 

Meanwhile, gold prices ended higher in the Asian region at $927.00 an ounce against last close of $919.40.

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First Published: Jun 24 2009 | 4:39 PM IST

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