Spot gold, futures gain on firm global cues
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New Delhi Gold rose by Rs 195 to Rs 48,608 per 10 gram in the national capital on Monday following a gain in the precious metal prices, according to HDFC Securities. In the previous trade, it had closed at Rs 48,413 per 10 gram. Silver dipped marginally by Rs 15 to Rs 70,521 per kilogram from Rs 70,536 per kilogram in the previous trade. "Spot gold prices for 24 carats in Delhi rose by Rs 195 with strong COMEX (New York-based commodities exchange) gold prices," according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel. In the international market, gold was trading with gains at USD 1,905 per ounce and silver was flat at $27.95 per ounce.
Gold futures gained Rs 210 to touch Rs 49,360 per 10 grams on MCX as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange (MCX), gold contracts for the August delivery traded higher by Rs 210, or 0.43 per cent, at Rs 49,360 per 10 gram in a business turnover of 12,778 lots. Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded 0.17 per cent higher at $1,908.60 per ounce in New York.
