Gold prices rose slightly in early trade as geopolitical tensions in the Ukraine and Middle East

Gold prices rose slightly in early trade as geopolitical tensions in the Ukraine and Middle East

Gold futures prices rose slightly in early trade on Friday, with the help of the tensions in Ukraine and the Middle East.

At the Multi Commodity Exchange, GOLD October futures contract was trading at Rs 27845 up Rs 78, or 0.28 percent. Gold in morning session touched an intraday high of Rs 27848 and an intraday low of Rs 27791. So far 123 contracts have been traded on MCX exchange.

While, in the mean timn on MCX Gold  August futures contract was trading at Rs 27662 up Rs 36, or 0.13 percent. Price hit an intraday high of Rs 27693 and an intraday low of Rs 27651. So far 875 contracts have been traded.

On U.S. Comex Exchange, Gold  August futures contract traded at $1,292.60 a troy ounce, up 0.14%, after hitting an overnight session an intraday low of $1,288.00 and off an intraday  high of $1,305.60.

The United States believes, Russia is triggering artillery across the border in military posts of Ukraine, the State Department said on Thursday, a statement that Moscow is playing a more direct part in conflict Ukraine.

Also on the minds of traders is the cycle of violence in the Middle East since Israel and Gaza to Iraq and Syria.

 

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Posted in Commodity, MCX

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