Spot gold rises to Rs 28,179 per 10 grams

Business

oi-Sneha

By Sneha B K

Published: Tuesday, January 31, 2012, 15:21 [IST]

Gold futures rose on Tuesday as speculators created fresh positions amid firming global trend and weaker dollar boosted the sentiment.

Historically, gold and dollar share an inverse relationship with each other and the recent slip in dollar has aided gold.

On the Multi Commodity Exchange, gold for February delivery rose Rs 53 or 0.19% to Rs 28,112 at 3.15 pm IST and had touched intraday high of Rs 28,179.

Similarly, the metal for April contract up by Rs 46 or 0.16% to Rs 28,496 and touched intraday high of Rs 28,570.

Spot gold rose and was seen trading at Rs 28,179, while spot silver rose and was seen trading at Rs 55,855.00.

While, silver for march delivery also rose by Rs 154 or 0.27% at Rs 57,146 and touched intraday high of Rs 57,300.

US spot gold was seen lingering at $1,742.60 an ounce.

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