Gold futures begins week on a positive note

Published: Monday, April 1, 2013, 14:16 [IST]

Gold futures edged higher on Monday tracking firm global cues after dropping through the last week. The PMI data from China signalled improvement in economic conditions, which saw buying support emerge in gold.

Also, lingering concerns on the Korean Peninsula and worries over Cyprus saw buying emerge in Gold. International spot gold was seen trading at $1,597 an ounce after touching $1,600 an ounce.

Domestically, gold futures were seen trading higher after a continues fall. Gold futures for April delivery on the Multi Commodity Exchange (MCX) was seen trading at Rs 29,472 higher by Rs 78 at 2.00 pm IST.

Silver futures were trading lower by Rs 276 at Rs 52,796 per kgs on the MCX.

Delhi spot gold of 99.9% purity was seen at Rs 30,250 per 10 grams and gold of 99.5% was seen at Rs 30,050 per 10 grams.

Gold rose on the first day of second quarter, last quarter it lost around 4 percent. While, stock markets surged and the euro stayed weak against the dollar.

GoodReturns.in

Story first published: Monday, April 1, 2013, 14:16 [IST]