Gold prices rise by Rs 175

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MUMBAI: Gold prices rose by Rs 175 to Rs 26,857 per 10 gram in futures trade after speculators widened positions amid a better trend overseas.

At the multi commodity exchange, gold for delivery in October was up by Rs 175, or 0.66%, to Rs 26,857 per 10 gram in business turnover of 1,363 lots. The metal for delivery in far-month December contracts moved up by Rs 165, or 0.61%, to Rs 27,046 per 10 gram in a turnover of 42 lots.

Analysts said the rise in gold prices at futures trade was mostly in line with a firming trend overseas after a factory gauge in China shrank to a three-year low, deepening concern about the slowdown in the world’s second-biggest economy and boosting demand for the metal as a safe haven.

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