Gold futures climb Rs 270 as Greece crisis deepens
Gold is priced at Rs 26,794 per 10 grams as speculators built up fresh bets
New Delhi: Taking positive cues from globalmarkets, gold futures traded Rs 270 higher at Rs 26,794 per 10 grams as speculators built up fresh bets. At Multi Commodity Exchange, gold for delivery in August spurted Rs 270, or 1.02 per cent, to Rs 26,794 per 10 grams in a business turnover of 622 lots. On similar lines, the metal for delivery in October contract was trading higher by Rs 266, or 0.99 per cent, at Rs 27,013 per 10 grams in a turnover of 16 lots.
Analysts attributed the rise in gold prices to a firming trend overseas as Greece shut banks and imposed capital controls, boosting demand for the precious metal as a safe haven amid concerns of the country's likely exit from the euro zone. Meanwhile, gold rallied 1.1 per cent to USD 1,188.23 an ounce in Singapore.