Gold futures tad higher on investment demand

Gold futures tad higher on investment demand
Gold futures were trading with slim gains in the domestic market on Tuesday as an expansion in gold-backed exchange traded products signaled pickup in investment demand for the bullion.

Holdings in the SPDR Gold Trust, the biggest exchange-traded product backed by bullion, rose for the second day on the trot on Monday. However, speculation that the sharp rally in prices may harm physical demand for the precious metal in Asia curbed gains in the bullion.

Gold futures for April 2014 contract, at MCX, is trading at Rs. 30,140 per 10 grams, up by 0.07 per cent, after opening at Rs. 30,035 against the previous closing price of Rs 30,120. It touched an intra-day high of Rs 30,146. (At 11:23 AM).

Dion Global Solutions Ltd.

Story first published: Tuesday, February 25, 2014, 12:43 [IST]
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