 "Gold futures prices recover on global cues")
New Delhi: Gold recovered by 0.54 percent to Rs 27,944 per 10 grams in futures trade today, tracking a better trend overseas as euro zone debt woes boosted the appeal of the commodity as an alternative investment avenue.
[caption id=“attachment_82586” align=“alignleft” width=“380” caption=“Market analysts attributed the rise in gold futures prices to a firming trend overseas. AP”]
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At the Multi Commodity Exchange, gold for delivery in October moved up by Rs 151, or 0.54 percent, to Rs 27,793 per 10 grams, with a trading volume of 2,539 lots.
Similarly, the metal for December contract delivery rose by Rs 143, or 0.51 percent, to Rs 28,230 per 10 grams, with a turnover of 165 lots.
Market analysts attributed the rise in gold futures prices to a firming trend overseas, as investors parked their funds in safer havens amid deepening of the euro zone debt
crisis.
Meanwhile, spot gold prices rose by 0.30 percent to $1,820.35 an ounce in the Asia today. They had reached a record $1,921.15 per ounce on 6 September.
PTI