PRECIOUS METALS TIPS April 04, 2014

DAILY BUZZ

GOLD

• Gold prices rose by Rs 85 to Rs 28,135 per ten grams in futures trading today as speculators enlarged their positions, taking positive cues from overseas markets.

• At the Multi Commodity Exchange, gold for delivery in June rose by Rs 85, or 0.30 per cent to Rs 28,135 per ten grams in business turnover of 283 lots.

• Similarly, the yellow metal for delivery in August moved up by Rs 82, or 0.30 per cent to Rs 27,800 per ten grams in seven lots.

• Market analysts said speculators enlarged their positions on the back of a firming global trend as recent retreat boosted speculation that physical demand will strengthen. This mainly led to rise in gold prices at futures trade.

• Meanwhile, gold traded higher at $1,292.07 an ounce in Singaproe today as against $1,289.90 yesterday.

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