Gold futures rise to Rs. 26,857 per 10 gm

New Delhi-India (Sept 1)  Gold prices rose Rs. 175 to Rs. 26,857 per 10 gram at the futures trade after speculators widened positions amid a better trend overseas.

On the Multi Commodity Exchange, gold for delivery in October was up by Rs. 175 or 0.66 per cent to Rs. 26,857 per 10 gram in a business turnover of 1,363 lots.

The metal for delivery in far-month December moved up by Rs. 165 or 0.61 per cent to Rs. 27,046 per 10 gm in a turnover of 42 lots.

Analysts said the rise in gold prices at the futures trade was mostly in line with a firm trend overseas after a factory gauge in China shrank to a three-year low, deepening concern about the slowdown in the world’s second-biggest economy and boosting demand for the metal as a safe haven.

Meanwhile, gold rose as much as 0.7 per cent to $1,142.79 an ounce in Singapore.

Source: TheHindu