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This is an archive article published on July 23, 2012

Gold future prices rise on spot demand

Gold for delivery in August rose by Rs 92,or to Rs 29,369 per 10 gm.

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Gold prices moved up by Rs 92 to Rs 29,369 per 10 gm in futures trade today as speculators

created fresh positions on expectations of a rise in demand in the spot market during festive season.

At the Multi Commodity Exchange,gold for delivery in August rose by Rs 92,or 0.31 per cent,to Rs 29,369 per 10 gm in business turnover of 7,728 lots.

Similarly,the metal for delivery in the October contract gained Rs 78,or 0.26 per cent,to Rs 29,718 per 10 gm in 819 lots.

Market analysts said fresh buying by speculators on hopes of a rise in demand in the spot market during festive season mainly led to rise in gold prices at futures trade.

 

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