Yellow metal climbs on firm global trend

Yellow metal climbs on firm global trend

04/09/2017 13:23

Gold futures were trading in the red in the domestic market on Monday as after speculators raised their bets, tracking a firm global trend.

Analysts attributed the rise in gold prices at the futures trade here to a firm trend overseas where it hit 10-month high on escalating geopolitical tensions after North Korea’s latest nuclear test drove investors towards safe-haven assets.

At the MCX, gold futures for October 2017 contract was at Rs 30214 per 10 grams, up by 1.31 per cent, after opening at Rs 30011 against a previous close of Rs 29823. It touched the intra-day high of Rs 30267 (13:22 hours).

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