Gold futures on Nov 12 increased by up to 0.50 per cent on the Multi Commodity Exchange, on cues from firm global markets, as the dollar weakened against the euro, and added to the bullion''s sheen as an alternative investment.
The most-active December contract increased by 0.50 per cent to Rs 11,682 per 10 gram at MCX, while February contract gained 0.37 per cent at Rs 11,717. Similarly, April contract moved up by 0.12 per cent at Rs 11,780 per 10 gram. Globally, gold for immediate delivery gained 7.58 per cent to USD 739.38 an ounce as yesterday''s decline encouraged buying of the metal, and as the dollar weakened against the euro, bullion became more attractive as an alternative investment option. Market experts said gold generally moved in the opposite direction to the dollar, which weakened by 0.9 per cent against the euro.
The most-active December contract increased by 0.50 per cent to Rs 11,682 per 10 gram at MCX, while February contract gained 0.37 per cent at Rs 11,717. Similarly, April contract moved up by 0.12 per cent at Rs 11,780 per 10 gram. Globally, gold for immediate delivery gained 7.58 per cent to USD 739.38 an ounce as yesterday''s decline encouraged buying of the metal, and as the dollar weakened against the euro, bullion became more attractive as an alternative investment option. Market experts said gold generally moved in the opposite direction to the dollar, which weakened by 0.9 per cent against the euro.
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