Gold futures tad higher on physical demand

Posted By: Religare
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Gold futures logged slim gains in the domestic market on Friday amid hopes that physical demand for the precious metal may pick up after India, the world's second biggest bullion consumer eased import restrictions on gold as the country's central bank enabled more players to import gold.

However, a spate of mostly positive US economic data including housing, manufacturing and leading indicators tempered safe haven demand for the bullion, curbing gains in gold futures.

Gold futures for June 2014 contract, at MCX, is trading at Rs. 27,269 per 10 grams, up by 0.10 per cent, after opening at Rs. 27,295, against the previous closing price of Rs 27,241. It touched an intra-day high of Rs 27,349. (At 11:00 AM).

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