Gold futures up at Rs 26429 per 10 gm - Hindu Business Line

New Delhi, April 23:   Tracking a firming trend overseas as investors increased physical purchases, gold prices rose 0.25 per cent to Rs 26,429 per 10 gram at the futures trade today. Besides covering-up of short positions by speculators fearing further rise, a firm demand in the domestic spot markets also influenced gold prices. At the Multi Commodity Exchange, the metal for delivery in June contracts gained Rs 63 or 0.25 per cent to trade at Rs 26,429 per 10 gm with a turnover of 1,725 lots. Similarly, the metal for delivery in June edged higher by Rs 64 or 0.24 per cent to Rs 26,829 per 10 gm, clocking a business volume of 60 lots. At the spot market, gold traded higher by Rs 300 at Rs 27,400 per 10 gm in the national capital yesterday. In the last three days, the prices have gone up by Rs 1,050. Analysts said sustained rise in the global markets after investors increased physical purchases after the recent plunge, supported the rise in gold prices at the futures trade here. Further, covering-up of short positions by speculators and rising demand at current levels in the domestic spot market also influenced the prices, they said. Globally, the yellow metal climbed 0.3 per cent to $1,430.52 an ounce in Singapore today. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEcWkQE3kH4kwfIdntWe8jV9y0DQw&url=http://www.thehindubusinessline.com/markets/gold/gold-futures-up-at-rs-26429-per-10-gm/article4646611.ece

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