Spot gold rise to Rs 27,645 per 10 grams

Published: Tuesday, February 7, 2012, 15:23 [IST]

Gold futures rose on Tuesday as speculators created fresh positions amid uncertain 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.

Spot gold at mcx rose and was seen trading at Rs 27,645, while spot silver rose and was seen trading at Rs 55,373.00 per kgs.

On the Multi Commodity Exchange (mcx), gold for April delivery rose Rs 40 or 0.14% to Rs 27,976 at 3.15 pm IST and had touched intraday high of Rs 27,992 per 10 grams.

Similarly, the metal for June contract up by Rs 23 or 0.08% to Rs 28,300 and touched intraday high of Rs 28,332 per 10 grams.

While, silver for march delivery was trading lower by Rs 160 or 0.28% at Rs 56,266 and touched intraday low of Rs 56,200 per kgs.

US spot gold was seen lingering at $1,723.19 an ounce.

However, investors are cautious against taking any major move, as the direction still seems to be unpredictable due to uncertainties about Greece bailout.

GoodReturns.in

Story first published: Tuesday, February 7, 2012, 15:23 [IST]