Gold futures higher on safe haven appeal

Posted By: Religare
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Gold futures higher on safe haven appeal
Gold futures were trading higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking positive cues from overseas markets as rising tensions in Ukraine boosted the safe haven demand for the bullion, while hopes rose of a pickup in demand from China, the world's biggest gold consumer.

Ukraine's President asked security forces to step up an offensive against militants as the weekend's pact with Russia to ease tensions nearly collapsed. Gold futures for June 2014 contract, at MCX, is trading at Rs. 28,733 per 10 grams, up by 0.47 per cent, after opening at Rs. 28,645, against the previous closing price of Rs 28,599. It touched an intra-day high of Rs 28,750. (At 11:05 AM).

Dion Global Solutions Ltd.

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