Zee Media Bureau
Gold prices rose marginally to Rs 26,502 per ten gram in futures trading Tuesday as speculators created fresh positions on a firm global trend.
At the Multi Commodity Exchange MCX), gold for delivery in December contract edged up by Rs 22, or 0.08 percent, to Rs 26,502 per ten gram.
Market analysts said speculators built up fresh positions, driven by a firm global trend where gold traded near the highest level in three weeks. This mainly boosted the sentiment.
Gold in overseas markets, which normally set price trend on the domestic front, traded at nearly three-week highs as investors weighed stimulus measures designed to spur economic growth with expectations for higher borrowing costs in the US.
Spot gold improved 0.4 percent to USD 1,202.20 an ounce.
Meanwhile, gold prices declined by Rs 30 to Rs 26,900 per ten grams at Delhi bullion market owing to slackened demand from jewellers and retailers at prevailing levels amid a weak global trend.
Silver, however, maintained its upward march for the fourth straight day and gained another Rs 375 to trade at Rs 37,025 per kg on increased offtake by industrial units and coin makers.
