Gold futures rallies tracking global cues

Posted By:

Gold futures rallies tracking global cues
Gold futures took a quick turnaround after trading low in morning due to various speculation over the US job claims data.

Traders globally are speculating that US may come out with weaker-than-expected job claims data, which in turn boosted the demand for the yellow metal as safe-haven investment.

At the Multi Commodity Exchange, gold for delivery in October touched an intraday high of Rs 27,560 per 10 grams and was trading the range of Rs 27,490 – Rs 27,496 per 10 grams around 1:10 pm IST.

Similarly, the metal for April contract delivery opened at Rs 28,208 per 10 grams and was trading in the range of Rs 28,301 – Rs 28,329 per 10 grams.

Investors and traders have kept their fingers crossed on data which is going to get released later in a day, the data which could move gold upside-down.

Read more about: gold, speculation, mcx
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?