Gold prices rose by Rs
50 to Rs 26,688 per 10 gram in futures trade after speculators widened
positions amid a better trend overseas. Gold for delivery in current month was
trading higher by Rs 50, or 0.19 percent to Rs 26,88 per 10 gram in a turnover
of 78 lots at the Multi Commodity Exchange
Silver also recovered by Rs 90 to Rs 34,930 per
kg on pick-up in demand from industrial units and coin makers.
Traders said a firming trend overseas where gold climbed after data showed a further contraction in China's manufacturing, adding to the case for haven assets as investors boost holdings mainly influenced sentiment here.
Globally, gold rose 0.5 per cent to USD 1,123.88 an ounce in Singapore.
In addition, continued buying by jewellers and retailers to meet the wedding season demand supported the upside, they said.
In the national capital, gold of 99.9 and 99.5 per cent purity rose further by Rs 55 each to Rs 27,185 and Rs 27,035 per ten grams respectively. The precious metal had gained Rs 80 in Saturday's trade.
Traders said a firming trend overseas where gold climbed after data showed a further contraction in China's manufacturing, adding to the case for haven assets as investors boost holdings mainly influenced sentiment here.
Globally, gold rose 0.5 per cent to USD 1,123.88 an ounce in Singapore.
In addition, continued buying by jewellers and retailers to meet the wedding season demand supported the upside, they said.
In the national capital, gold of 99.9 and 99.5 per cent purity rose further by Rs 55 each to Rs 27,185 and Rs 27,035 per ten grams respectively. The precious metal had gained Rs 80 in Saturday's trade.
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