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February 27, 2009 |
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Commodity Online
NEW DELHI : Gold prices advanced marginally in futures trading Friday as the rupee dropped to a record low in forex trading.
On the Multi Commodity Exchange, gold for the most-active April contract moved up to Rs 15,397 per 10 gram at 3.30 p.m.The contract recorded a business volume of 389 lots.
Easiest way to get Futures prices of MCX & NCDEX
A similar trend was extended to June month contract, which rose to Rs 15,382 with trading of 6,253 lots.
The Indian rupee dropped to a record low on Friday on heavy dollar demand from oil refiners to meet import commitments while arbitrage play between the onshore and offshore markets also weighed.
Analysts say the bullish trend in gold is still intact as equity markets continue to stagger amid concerns about the deepening global recession
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