Weak rupee pushes up gold futures

March 16, 2009

Commodity Online
NEW DELHI : Turnaround in forex market, which witnessed a slight fall for the rupee after importers intensified dollar purchases, help gold prices recover from early losses in futures market.

Local stocks also reversed their trends to fell into negative territory in late morning session which might pace up capital outflows.

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The benchmark April contract at the MCX was seen trading at 15,315 at 12.2 a.m, after hitting a high of 15,350 earlier.

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