February 24, 2017

Gold futures were up 0.13 percent to Rs 31,820 per 10 grams as traders raised bets amid positive cues from global markets. At the Multi Commodity Exchange, gold for delivery in far-month October contracts was quoting higher by Rs 40, or 0.13 percent, at Rs 31,820 per 10 grams in a business turnover of 1,191 lot. Similarly, the metal for delivery in August traded higher by Rs 30, or 0.09 percent to Rs 31,650 per 10 grams, in five lots. Analysts attributed the rise in gold prices to a firming trend overseas as investors focus on a key jobs report in the US due Friday, following Thursday’s Bank of England stimulus package that included its first interest-rate cut in seven years. Meanwhile, gold was trading 0.1 percent higher at USD 1,361.80 an ounce in Singapore.
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