Gold futures rise to Rs. 26,688 per 10 gm

New Delhi-India (Feb 1)  Gold prices rose Rs. 50 to Rs. 26,688 per 10 gram at the futures trade after speculators widened positions amid a better trend overseas.

Gold for delivery in current month was trading higher by Rs. 50 or 0.19 per cent to Rs. 26,688 per 10 gram in a turnover of 78 lots at the Multi Commodity Exchange.

The metal for delivery in far-month April contracts also rose by a similar margin to trade at Rs. 26,795 per 10 gm in a turnover of 169 lots.

Analysts said the rise in gold prices at the futures trade was mostly in tune with a firm trend overseas after data showed a further contraction in China’s manufacturing, adding to the case for safe-haven assets as investors boost holdings.

Meanwhile, gold rose as much as 0.4 per cent to $1,122.40 an ounce in Singapore.

Source: BusinessLine