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  Business   Market  12 May 2017  Gold prices rise by Rs 28,150 per 10 gram

Gold prices rise by Rs 28,150 per 10 gram

PTI
Published : May 12, 2017, 11:31 am IST
Updated : May 12, 2017, 11:31 am IST

fresh positions built up by traders in line with a firm global trend raised demand for precious metal,

Representational Image
 Representational Image

New Delhi: Gold prices rose by 0.10 per cent to Rs 28,150 per 10 gram in futures trade as participants created fresh positions, tracking a firm trend overseas. At the Multi Commodity Exchange, gold for delivery in far-month August rose by Rs 29, or 0.10 per cent, to Rs 28,150 per 10 gram, in a business turnover of one lot.

Likewise, the yellow metal for delivery in June moved up by Rs 26, or 0.09 per cent, to Rs 28,030 per 10 gram in 255 lots. Analysts said fresh positions built up by traders in line with a firm global trend as the US and European stock markets retreated, raising demand for the precious metal, influenced the sentiment. Globally, gold rose 0.08 per cent to USD 1,225.80 an ounce in Singapore.

 

Tags: gold price, gold market, multi commodity exchange