Gold Trades Higher as Greece Risks Weigh

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Gold edged higher in trade on Thursday amid uncertainty in Greece which helped investors to buy the precious metal. Gold's so called reputation as a 'flight to safety' continued amid global economic and financial uncertainty.

Gold, which is considered as an alternative to other riskier assets tends to benefit from any global and financial turmoil.

Gold Trades Higher as Greece Risks Weigh

However, gold was seen trading in narrow range ahead of Friday's U.S. employment data, which will hint at the further direction for the yellow metal. International gold was seen trading at $1,267 an ounce.

Speculators may plan to rebuild their portfolio with gold after it rose in international markets.

At the Multi Commodity Exchange(MCX), Gold for delivery in latest month February rose high to Rs 27,750 per 10 grams at 2.20 pm IST. Domestic bullion prices in Delhi was of 22 carat and 24 carat gold was seen at Rs 27,930 and Rs 26,120 per 10 grams, respectively.

Read more about: gold, mcx, futures
Story first published: Thursday, February 5, 2015, 15:02 [IST]
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