Reversing an early downward trend, gold recovered to trade above Rs 26,000 level by rising 0.33% to Rs 26,220 per 10 gm in futures trade today after it recovered in the global markets.
At the Multi Commodity Exchange, gold for delivery in far-month October gained Rs 87, or 0.33% to Rs 26,220 per ten gram in a turnover of 515 lots. It had touched a low of Rs 26,008 in early trade.
Similarly, gold for the August contracts, after dipping below Rs 26,000 level to touch a low of Rs 25,887 per ten gram at the outset, recovered to trade Rs 46, or 0.19% higher at Rs 26,080 per ten gram in 12,543 lots.
Market analysts said recovery in the global markets on speculation that this year's slump will spur stronger physical demand, helped gold to wipe-off initial losses to trade in positive zone.
Globally, gold rose 0.6% to $1,230.97 an ounce in London.
courtesy of business-standard.com
At the Multi Commodity Exchange, gold for delivery in far-month October gained Rs 87, or 0.33% to Rs 26,220 per ten gram in a turnover of 515 lots. It had touched a low of Rs 26,008 in early trade.
Similarly, gold for the August contracts, after dipping below Rs 26,000 level to touch a low of Rs 25,887 per ten gram at the outset, recovered to trade Rs 46, or 0.19% higher at Rs 26,080 per ten gram in 12,543 lots.
Market analysts said recovery in the global markets on speculation that this year's slump will spur stronger physical demand, helped gold to wipe-off initial losses to trade in positive zone.
Globally, gold rose 0.6% to $1,230.97 an ounce in London.
courtesy of business-standard.com
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