Yellow metal up on firm global cues 12/05/2017

Yellow metal up on firm global cues
12/05/2017

Gold futures were trading higher during the afternoon trade in the domestic market on Friday as participants created fresh positions, tracking a firm trend overseas.
Analysts said fresh positions built up by traders in line with a firm global trend, as the US and European stock markets retreated raising demand for the precious metal, influenced the trading sentiment.
At the MCX, gold futures for June 2017 contract is trading at Rs 28047 per 10 grams, up by 0.15 per cent, after opening at Rs 28008, against a previous close of Rs 28004. It touched the intra-day high of Rs 28064 (at 12:33 hours).

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