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Thursday November 5, 04:57 PM
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Source: Financial Express
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Gold recovers in futures trade, up 0.20 pct
Gold futures prices rose 0.20 per cent in futures trading, tracking firming trend overseas after the Federal Reserve left US interest rates unchanged.
At the MCX counter, gold for delivery in December contract traded 0.20 per cent, or Rs 40 higher at Rs 16,618 per ten gram with turnover in 727 lots. The contract had closed 0.2 per cent lower at Rs 16,588 per 10 grams, after hitting a record high of Rs 16,677 in yesterday's session.
Gold for far-month February contract also gained 0.19 per cent, or Rs 33 at Rs 16,645 per ten gram, clocking turnover in 32 lots.
Market analysts said short-covering by speculators, firming trend in global markets where gold hit a record high of USD 1,097.25 an ounce as the US dollar weakened after Federal Reserve left US interest rates unchanged.
Besides, IMF's gold sale to India also had positive impact, they said.
