New Delhi: Gold prices rose sharply by Rs 150 or 0.57 per cent to Rs 26,618 per 10 grams in futures trade on December 9 after speculators enlarged positions taking cues from overseas markets.
At the Multi Commodity Exchange, gold for delivery in far-month April 2015 contract spurted by Rs 150, or 0.57 per cent to Rs 26,618 per 10 gram, with a business volume of 12 lots. Metal for delivery in February contracts moved up by Rs 144, or 0.55 per cent, to Rs 26,505 per 10 grams, clocking a business turnover of 566 lots.
Market-men said fresh positions built-up by speculators in tandem with overnight gains in overseas markets as signs that money supplies will rise in Europe and Asia revived demand for the precious metal, mainly led to a rise in gold futures. Globally, gold in New York traded 0.93 per cent higher at USD 1,204.20 an ounce in 8 December’s trade.
