Zee Media Bureau
Recovering from their early losses, gold prices gained marginally in futures trade Tuesday as market participants enlarged positions in tandem with a firm global trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in February rose by Rs 23 to Rs 26,631 per 10 grams after moving in range of Rs 26,500 - Rs 26,749.
Gold in overseas markets, which normally set price trend on the domestic front, rebounded from a three-week low today as the dollar eased slightly, but remained vulnerable to further losses as appetite for risk continued to lift equities.
Spot gold was up 0.5 percent to USD 1,179.81 an ounce. It had tumbled nearly 2 percent on Monday, dropping to its lowest since Dec 1 at USD 1,170.17.
US gold futures for delivery in February were unchanged at USD 1,179.90 an ounce.
Meanwhile, gold prices tumbled by Rs 265 to Rs 27,000 per 10 grams at the bullion market at Delhi bullion market on slackened demand from jewellers and retailers at prevailing levels amid a weak global trend.
Silver also lost Rs 550 to Rs 36,350 per kg on poor offtake by industrial units and coin makers.
With agency inputs
