Gold futures up at Rs 28,190 per 10 grams

Business

oi-Sneha

By Sneha B K

Published: Wednesday, February 1, 2012, 15:32 [IST]

Gold futures rose on Wednesday as speculators created fresh positions, weak rupee is also boosting demand for gold. The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.

Gold for delivery in February at the Multi Commodity Exchange opened at Rs 28,125 per 10 grams and was trading at Rs 28,190 per 10 grams, up by Rs 112 or 0.40% at 03.20 pm IST.

And, the metal for April contract delivery opened at Rs 28,525 per 10 grams was trading in the range of at Rs 28,552 per 10 grams up by Rs 101 or 0.35%.

Overseas spot gold price was seen trading at US $1,746 a troy ounce.

However, domestic spot gold price (Delhi) fell by Rs 70 to Rs 28,620 per 10 grams while silver slipped by Rs 700 to Rs 55,800.

Silver for delivery in March at the Multi Commodity Exchange, opened at Rs 56,520 per kg and was trading at Rs 57,070 up by Rs 648 or 1.15%.

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