Gold price moves higher by Rs 120 to Rs 27,896 per 10 gram

Zee Media Bureau

Gold prices gained by Rs 120 to Rs 27,896 per 10 gram in futures trade Tuesday as market participants created fresh positions moving in tandem with a positive trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in August climbed by Rs 120 or 0.43 percent to Rs 27,896 per 10 gram with a business turnover of 179 lots.

Marketmen said increased positions built-up by speculators after the precious metal traded at almost three-month high in global markets with holdings in the SPDR, the biggest gold-backed exchange-traded product, expanding 0.7 percent yesterday, influenced gold futures here.

Globally, gold climbed 0.90 percent to USD 1,326.90 an ounce in New York in yesterday's trade.

With agency inputs