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Gold futures climb Rs 200 on firm global cues

by August 17, 2017 General

Gold prices rose Rs 200 to Rs 29,212 per 10 grams in futures trade today as speculators raised their bets amid a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in far-month December rose by Rs 200, or 0.69 per cent, to Rs 29,212 per 10 grams, in a business turnover of 16 lots.

Similarly, the yellow metal for delivery in October was trading higher by Rs 197, or 0.68 per cent, to Rs 29,149 per 10 grams in 361 lots.

Analysts said a firming trend in the where the precious metal advanced as the dollar slipped against a basket of major currencies after the release of the minutes from Federal Reserve’s July meeting at which policymakers voted unanimously to keep the US unchanged, influenced gold at futures trade.

Globally, gold surged 0.36 per cent to USD 1,287.40 an ounce in

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)