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Thursday, February 11, 2016

Gold futures remain up, climb 1.19% on positive global cues

Thursday, February 11, 2016
Commodity Market Tips

Gold remained higher for the second straight day and prices shot up by another 1.19 percent to Rs 28,655 per 10 grams in futures trade today, tracking a firming trend overseas.

At the Multi Commodity Exchange, gold for delivery in April jumped up by Rs 338, or 1.19 percent, to Rs 28,655 per 10 grams, in a business turnover of 560 lots.

On similar lines, the yellow metal for delivery in June traded higher by Rs 326, or 1.14 percent, to Rs 28,860 per 10 grams in four lots.

Analysts attributed the rise in gold futures to a firming global trend where gold jumped to the highest level in eight months after Federal Reserve Chair Janet Yellen signaled that the US central bank may delay further interest-rate increases should the turmoil in global markets continue.

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